- EUR/CAD is trending towards the downside on multiple time frames.
- The daily is currently forming a bearish engulfing candlestick pattern, suggesting bearish power in the market.
- We also have a recent H1 bearish engulfing candle closure bouncing off MA'20. H4 closure to confirm my entry.
- The trade has the potential to reach at least 80 pips in profit, so the overall setup looks good for a short trade opportunity.
- The daily is currently forming a bearish engulfing candlestick pattern, suggesting bearish power in the market.
- We also have a recent H1 bearish engulfing candle closure bouncing off MA'20. H4 closure to confirm my entry.
- The trade has the potential to reach at least 80 pips in profit, so the overall setup looks good for a short trade opportunity.