- Price is stuck in a tightenning triangle.
- Ichimoku has slightly bearish bias, but looking at thin forward Kumo and flat averages making an equilibrium ard 1,4500 (very close to spot price) show that there is some lack of momentum here.
- Heikin-Ashi candle + haDelta also shows indecision
Theoretically on FX side EUR can stay under pressure, which should make EURCAD a sell. However if risk-off persists, and also EURUSD comes lower, then WTI may get another hit, forcing some more buying in USDCAD too, which in this case can drive EURCAD higher easily.
If something is not trending with momentum, then leave it. Bias is bearish until Price holds below 1,4580-1,4600, but probably not the best RR short right now.
- Ichimoku has slightly bearish bias, but looking at thin forward Kumo and flat averages making an equilibrium ard 1,4500 (very close to spot price) show that there is some lack of momentum here.
- Heikin-Ashi candle + haDelta also shows indecision
Theoretically on FX side EUR can stay under pressure, which should make EURCAD a sell. However if risk-off persists, and also EURUSD comes lower, then WTI may get another hit, forcing some more buying in USDCAD too, which in this case can drive EURCAD higher easily.
If something is not trending with momentum, then leave it. Bias is bearish until Price holds below 1,4580-1,4600, but probably not the best RR short right now.