2015-12-31_00-23-00eurcad

On this eurcad daily chart we have price at resistance.

It is already moving sideways which might be an indication that the up move is loosing steam.

If we look on the leftern side of the chart we may note that since August price is moving from the upper boundary of 1.53400 to the lower boundary of 1.40600.

Therefore if short then we may initiate a trade with a good risk to reward level.

The target would be the lower boundary and the stop loss would be placed over the grey line.

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