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2scenarios

EURCAD Bearish Divergence, yet Longing Chances Too 07/02/2021 this instrument has got two scenarios seem bearish to our eye as it has done its Distribution after showing some Regular Bearish Divergence with MACD which is the sign of trend reversal and a retracement unto the Fibonacci Golden areas but it is conditioned to break the blue trend line and if so the we can have our 2 bearish TPs... if not then we have the Bullish scenario which we can target Minimum of 1.71 CAD of our Fibonacci expansion .27% where we have specified it as Long TP. Remember it is on the Weekly time frame so we may need to be more focused on fundamental of the market to get the grip of our Final decision and use the technical chart as a confluences along with it... we are having mostly Bearish sentiment on this but we kept the Bullish back door open yet which side do you think it goes?
by BitonGroup
4
USDCAD Critical Pointin this instrument we are having 2 scenarios 1. Long which we can target our bearish's wave Fibonacci retracement levels as we can see there exist a bullish divergence between price and MACD (Green), we have a resistance zone too, which we can have some consolidation or a sharp break trough... 2. Short scenario is also very much possible as we are in a bearish channel so we can have the same trend continued up to our previous support levels or we can have both first short to the support and then long up to the Ultimate long TP please let us know how do you think it may happen???
by BitonGroup