On the D1 chart price is still above classic support (red line) but I’d like to encourage You to try look at this pair in different way – by system of extremes.
Yesterday EUR/CAD broke local support zone on the last low. In this kind of view, the oppurtunity to sell the pair occure. At the moment, we can say that market is creating pinbar on the D1 interval. If sell-the-pair scenario succeed, first target for probable fall will be at blue level. Situation on H4 interval is pretty interesting as well. I know, that different brokers provides different candles, but on my chart another pinbar occured, and the second one is already creating. This is needed evidence, that on EUR/CAD supply is overcoming support. In the next couple of days, we will see if my picture of this pair is correct.
Similar, but much better situation. Better means that the support zone is not only last low, but wider line of highs and lows. Price getting thru green zone can be view as an announcement for further fall. Looking closer on H4 interval, we can easily see pinbar candles. It might be great opportunity to sell GBP/AUD on current levels, because next support is only nearby 2,0880. To get the best spreads on GBP/AUD or EUR/CAD check out FxGrow broker. Goodnight traders 😉