The EURCAD broke a significant level this week. On Tuesday I shared a chart that showed how sellers were on the verge of closing the pair below the head and shoulders neckline support. At the time the pair was trading at 1.4895 and hadn’t yet closed the day below the 1.4970 level. But instead of attempting a late session rally, buyers threw in the towel and allowed the pair to drop even further into Tuesday’s close. The result was a 1.4809 print which left the EURCAD well below the former support area at 1.4970. It also confirmed what we had long suspected to be a head and shoulders reversal. But it hasn’t been ... (full story)