EURCAD move to 1.3817
Observations
1. Price broke a long term up trend line on July 2nd 2014 and has since been dropping.
2. The 1.618 Fib extension for the latest down swing is around 1.3817
3. Hidden divergence is seen (Price made a lower high while stochastic made a higher high)
4. The 100EMA seems to be giving good resistance to price
5. Stochastic is in the over-bought area hence a move lower is expected
6. Multiple missed monthly pivots exist below price
Expectations
- I expect price will move down in the coming days to 1.3817 area
- Pips from current price level = 560 pips
1. Price broke a long term up trend line on July 2nd 2014 and has since been dropping.
2. The 1.618 Fib extension for the latest down swing is around 1.3817
3. Hidden divergence is seen (Price made a lower high while stochastic made a higher high)
4. The 100EMA seems to be giving good resistance to price
5. Stochastic is in the over-bought area hence a move lower is expected
6. Multiple missed monthly pivots exist below price
Expectations
- I expect price will move down in the coming days to 1.3817 area
- Pips from current price level = 560 pips
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.