EUR crosses/Technical Analysis/Trade Ideas

EUR/CAD technicals: Top in place, how deep will the retracement be

     There looks to be a top in place now at 1.3020 after a 5-wave up-move and a retracement is currently in progress. The question now is how deep can the retracement go, with the 61.8% level quite a bit lower at 1.2480. Looks like a 1.25/1.30 range for the rest of the year so some patience is definitely needed here. Volatility can also be expected inside of this range as this pair is heavily traded by the big macro funds.

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