EURCAD potential 400PIPS!! SELL opportunity

9 jun

EUR/CAD is setting up for a lucrative short trade as it retraces to test the descending trend line resistance around the 1.4950 region. This technical pattern suggests a high-probability reversal, where traders can look for bearish entries. Target the first take-profit (TP1) at the immediate support level of 1.4700, and if the bearish momentum continues, aim for TP2 at the significant support zone around 1.4450. This confluence of trend line resistance and key support levels creates a compelling sell setup, perfect for traders looking to capitalize on EUR/CAD's anticipated downtrend. Enter short near 1.4950 with a stop loss above the trend line, maximizing profit potential as the price targets lower support zones!