EUR/CAD Formed A Double Top

The first screenshot above is an excellent reason why a trader should take a look at the monthly filter chart at least once in a while. As you can see, EUR/CAD has formed a really impressive double top on the monthly filter chart. Between that and the shooting star and the doji candlesticks visible on the weekly filter chart I believe that we can expect the pair to move to the downside again, and continue doing so in the foreseeable future. I would say that it will reach the support at 1.4380 – 1.4400 at the very least, although it’s possible to fall much lower than that.