EUR/CAD:SELL From Resistance Area 50% Fibo Trendline SHORT
Updated
Yesterday the EUR/CAD following the FOMC news release, had a Strong Push-down exactly on the levels we have drawn, Resistance Area, 50% Fibonacci level plus the Dynamic trendline. Today the Price is trying to recover from the situation but as you can see there are no clues for a change of tendency. Both the RSI and Stochastic indicator shows a Divergence and the last one is still in the Overbought area. The Candle in 8h shows a rejection in our attention area with a long spike.
Our forecast is about a continuation of the downtrend with a consequential bearish tuning of the price.
Our forecast is about a continuation of the downtrend with a consequential bearish tuning of the price.
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