EUR/CAD

Since the daily chart shows a strong downtrend, we are looking for selling opportunities. A move down through that support level might open to door to more selling so entering on the break down through 1.24495 would be a solid sell entry with the protective buy stop placed above the 1.26374 buy side high noted on the chart. Target to take profits should be set at twice that risk for a 1:2 risk:reward ratio.