EUR/CAD | Potential Downward Movement 🔨🔨🔨
Technical Analysis:
The price on the higher time is showing lower lows and highs where it is smashing all the daily supports. Recently, the price posted a correction count toward the resistance (previously support) at 1.4914 USD level. On the lower time frame, the price is forming a bearish pennant, where we expect a breakout to the downside and then a move downward toward the 1.4852 USD mark.
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Trade Idea:
Sell Limit Order @ 1.4914
Take Profit @ 1.4852
Stop Loss @ 1.4940
Trade Safely 🙂
The price on the higher time is showing lower lows and highs where it is smashing all the daily supports. Recently, the price posted a correction count toward the resistance (previously support) at 1.4914 USD level. On the lower time frame, the price is forming a bearish pennant, where we expect a breakout to the downside and then a move downward toward the 1.4852 USD mark.
-------------------------------------------------------------------------------------
Trade Idea:
Sell Limit Order @ 1.4914
Take Profit @ 1.4852
Stop Loss @ 1.4940
Trade Safely 🙂
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