Who says there is no volatility in the FX market?
EUR/CAD is down 255 pips since Draghi talked about cutting rates in June. The pair has now broken the April low.
![EURCAD daily chart](http://az705044.vo.msecnd.net/20140508/EURCAD-daily-chart.png)
EUR/CAD daily
What’s more is that the 100-day moving average broke for the first time since May 2013.
![EURCAD top](http://az705044.vo.msecnd.net/20140508/EURCAD-top.png)
This looks like a top
Update: Our old friend Greg Michalowski has more analysis on this pair.