Price has been operating within a descending triangle
and looks to be about to break out very soon. I favour a move to the downside due to the CAD fundamentally looking bullish
as a result of recent oil
news and the fact that EURCAD
is currently in a downtrend. Take profit is placed at a strong lower level of support (on higher timeframes) with the stop loss just above a small resistance level
that price is being rejected by.