Price seems headed for an AB=CD completion down. For this trade to be valid, price needs to stay this whole week under 1.41559. Once that's done, we can expect it to travel as forecasted and reach either of the targets in the specified time. If it doesn't then we might see a reversal, but for the time being I suggest short.
completely agree on the idea, both eurcad and gbpcad are looking very bearish.. here is my view on gbpcad tradingview.com/v/qmje2VrA/
IvanLabrie
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Indeed, it's fairly likely to see a downtrend continuation in gbpcad as well.
I'm waiting for a retrace in Euro pairs though, they are too overextended to scale in yet.
CryptoPAMM
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true, but CAD is feeling very strong
IvanLabrie
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Stronger than the Euro for sure, but if we see bad labor data and a crude downtrend continuation, I'll short cadjpy, for example.