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One of my favourite pairs, the reason I wont be getting in is the Stoch Divergence in this flag that could indicate it moving up to Double-top. Even if it does appear to be a straightforward sell off the Daily.
EURCAD is ready to drop, being in a very strong supply zone and retesting a broken uptrend line against the very sharp downtrend line from he previous high. MA pressure could help to push it down further as it snaps back.
Are we so sure this will retrace upto the 50/61? Im not this may be a shallow retracement itis a massive demand area to get back upto 150. if it does (Fundamentals aside) it will track up the trend line painfully so set an alert and be ready for it!