Short

EURCAD: Can this be the top ?

Updated

1. EURCAD completed a daily cypher pattern on daily chart.
2. Price is testing a strong historical resistance zone
3 Divergences (for the time being)
4. On 60 min chart price completed or is near completion to an advanced bearish pattern with divergences.

Good Luck!

Note

Note

Weekly chart

Note

Price reached TP1 of harmonic pattern move, +80 pips since the chart was posted and was stopped again from 200 EMA on 60 min chart. So in this situation we can see a move up for a retest of the top again or even breaking it, before moving to downside. If price will break 200 EMA and close below it then we can see a nice fall. For the time being EURUSD, EURAUD, EURGBP and EURNZD are moving really nice to downside. So with EURCAD price can create a more complex wave_ 1 or (A) and Wave_2 or (B),before moving to donwside. Keep an eye on this pair as it is going to move really soon.

Note

Very nice bearish Engulf candle on daily chart and it is formed in a strong resistance zone. Price retraced 78.6% of the big bearish Engulf candle. Potential move down.

KlejdiCuni

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