EURCAD - Poised for a drop
EURCAD - 7 Jan 2018:- Poised to fall on the Daily TF.
It has passed the 50ema and currently testing the Weekly Support. The next level will be the 200, followed by the 800.
Triangular Direction Indicator (TDI) (not on the chart), shows market (yellow) has been gradually curving downwards, indicating downwards trend plus the RSI (green) is also below the Liquid 50 level, pointing sharply downwards and a good 50 bounce.
Also notice the Volatility Band has begun to expand, showing the volume increasing for a downside push. Will have to see how it plays.
It has passed the 50ema and currently testing the Weekly Support. The next level will be the 200, followed by the 800.
Triangular Direction Indicator (TDI) (not on the chart), shows market (yellow) has been gradually curving downwards, indicating downwards trend plus the RSI (green) is also below the Liquid 50 level, pointing sharply downwards and a good 50 bounce.
Also notice the Volatility Band has begun to expand, showing the volume increasing for a downside push. Will have to see how it plays.
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