EURCAD ready to reverse
EURCAD ready to reverse
EURCAD has broken below the support zone of 1.4060-90. This strong support zone has held nicely since the beginning of Feb. And of most importance, there are at least 5 touches in this red rectangular zone since Feb.
With 5 or more touches, a breakdown of this zone is a strong bearish technical indication. If EURCAD rallies to re-test this zone, expect it to become a strong resistance. Look to short if EURCAD retraces to the 38.2% FIB retracement at 1.4090-00.
Short EURCAD 1.4090-00
SL 1.4150
TP 1.3800
=====
ForexPositive.com
Twitter ForexPositive
=====
EURCAD has broken below the support zone of 1.4060-90. This strong support zone has held nicely since the beginning of Feb. And of most importance, there are at least 5 touches in this red rectangular zone since Feb.
With 5 or more touches, a breakdown of this zone is a strong bearish technical indication. If EURCAD rallies to re-test this zone, expect it to become a strong resistance. Look to short if EURCAD retraces to the 38.2% FIB retracement at 1.4090-00.
Short EURCAD 1.4090-00
SL 1.4150
TP 1.3800
=====
ForexPositive.com
Twitter ForexPositive
=====
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.
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.