BIG PICTURE PERSPECTIVE EUR/CAD is one of not too many cross pairs , which is actually trending nicely in the last 12 months and is a big part of trend following strategies employed in the currency market . Looking at EUR/USD and USD/CAD , we can see that recent pullback's from highs offering good buying opportunities into next move up in those , or at least retest of high levels established in the last couple of days . EUR/CAD cross can be used to express both trading ideas in one single trade . Looking at the Daily's ... We have reached Support and possible retrace level 1.5150 . Here I am looking for Price Action Analysis ( http://smbu.us/smbwho ) on smaller time frame which can confirm or dismiss this bias for Longs and if we are NOT reaching below 1.5030 , will look for retest and possible New Highs into next rally . ------------------------------------------------------------------------------------------------ OTHER SCENARIO Looking still for Buying opportunities , but if established in more deeper support zone 1.5030 -1.4980 , would be first sign of cracks emerging into this uptrend . In this scenario 1.5370/80 level can come into play as a target for longs and reverse positions into SHORT trade if we receive validation at the time . ------------------------------------------------------------------------------------------------ To learn more about the methodology used to prepare this analysis , please visit http://smbu.us/smbwho .