EURCAD seems in need of another corrective leg higher that I will count as a wave C. The reversal was strong and after a consolidation I will be looking for a buy continuation trade.
Updates will follow
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I don't think this is over just yet, wait for a consolidation and THEN look to buy the continuation for wave C higher.
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ezodisy
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There is a similar setup (and bearish channel like that) on usd/cad too. It is more bullish within the correction though
Trillionschifer
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But that would mean U-cad is also a temp sell but ultimately a buy.
TimStuyts
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I'm not going into too much detail regarding inter market analysis here on TV because it confuses most traders as I noticed last time.
What I can say is that USDCAD is already a bit further in the process than EURCAD. However both EURCAD and USDCAD show a very clear structure with a consolidation to be in progress where I expect the final wave to be in progress (namely wave C).
Within such a consolidation both buy and sell trades will present themselves.
Once this consolidation is complete we can expect an incredible sell trade set-up.
But at all times trading is an IF=THEN process.