After the recent price losses, EURCAD has stabilised for the time being. The movement permits a trade in the sense of classic trading out of the correction. A bullish breaker block underpins a short-term optimistic view on the currency pair.
Traders can place the stop loss below the last open FVG. The unmitigated IFVG in the 1.4789 area is a good take profit. The particular attraction of this target is the fact that the open IFVG is in close proximity to the 61.8% retracement of the recent downward movement.