EURCAD -- SHORT -- CONTINUATION TRADE 370 PIPS!!
Display: 
EURCAD
Description: As shown above we haveEURCAD. I was going through pairs and noticed this TL i drew a while back has been broken majorly,
Also as we can see price failed to break above monthly resistance 1.50250 3 times since the later part of February. Resulting in price decline consequently breaking out of
the Trend.We could see a clean break of Monthly Support during the early part of next week if there is no retracement before or around Monthly Supp/BLUE Box Key
Level.
I would then wait for a Possible Retracement back to Monthly Resitance/Supp 1.41900 to short this pair.
However if we get a retracement i'll expect price will break monthly Supp Bounce around the Key Level then i would look to enter at around 0.382 - 0.618 preferably a
rejection of the 200 EMA (PINK) with stops at Daily Resistance 1.43800.
Indicators: [50,200 EMA ,RSI] On the Daily we are trading below both EMA'S which also seem to be crossing to the Downside,Monthly below 200 and just crossing below the 50. Daily
we have a Bearish Cross very likely to happen.
Duration: Long Term
EURCADDescription: As shown above we have
EURCAD. I was going through pairs and noticed this TL i drew a while back has been broken majorly,Also as we can see price failed to break above monthly resistance 1.50250 3 times since the later part of February. Resulting in price decline consequently breaking out of
the Trend.We could see a clean break of Monthly Support during the early part of next week if there is no retracement before or around Monthly Supp/BLUE Box Key
Level.
I would then wait for a Possible Retracement back to Monthly Resitance/Supp 1.41900 to short this pair.
However if we get a retracement i'll expect price will break monthly Supp Bounce around the Key Level then i would look to enter at around 0.382 - 0.618 preferably a
rejection of the 200 EMA (PINK) with stops at Daily Resistance 1.43800.
Indicators: [50,200 EMA ,RSI] On the Daily we are trading below both EMA'S which also seem to be crossing to the Downside,Monthly below 200 and just crossing below the 50. Daily
we have a Bearish Cross very likely to happen.
Duration: Long Term
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.