EURCAD is now sitting at a critical degree of support and resistance around the entire number of 1.4400. If you scroll back on your charts this amount has shown to be a level since 1993 acting as support and resistance on numerous occasions. We currently have a dual bottom forming on the daily chart which could indicate a move on the long side but price action is currently favouring shorts. Price is presently below the 200, 20 and 50 daily ema's and the bar of today is unquestionably showing that sellers have control of the market. To enter short at this stage may be a little early, if we see a break of the amount and then a retest with a selling signal this may be the beginning of a transfer to the side that is short.