bearish trend seems to be taking place on the EURCAD pair and that’s according to the green color shown by the Bollinger Bands indicator determining by that the main market direction. A sell signal is indicated from the Simple Moving Average indicator and that is by giving us buy signal. This pair can continue bearish trend, now current price at 1.5001 and strong resistent in hourly time frame at level 1.4979 there is possible chance price will move to up side. then next low price is 1.5052
I suggest to entry SELL with stoploss at 1.4966 and take profit at 1.5051
use higher timeframe is very important because it always helps you to enter in the direction of current trend . using multiple time frame analysis will gives you a clearer view of the market and increases chance to making profit
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