. The EURCAD pair has been on a strong uptrend since the beginning of the year, but has recently broken out of a rising wedge pattern. This suggests that the pair may be starting to move lower and could be a good opportunity for a short position. The pair is also currently retracing 78% of its previous move, suggesting that the uptrend could be coming to an end. With this in mind, traders may want to consider entering a short position on EURCAD.