EURCAD 4H TECHNICAL ANALYSISDue to the falling wedge pattern the price has appreciated, now it is time of correction before moving further upwards. We go Short on this pair at the current level and book our profits at 1.3950 level.
Eurcadsell
Pay attention to this zone! EURCAD analysisHi guys,
earlier today i've posted another idea about this pair, but the scenario is now changed. As you can see price broke through the previous support and it's now sitting right into previous resistance (that should also provide some selling pressure).
In this resistance zone we also have some confluence: a bat pattern (just completed), a psychological round number (1,4100) and a 618 fibonacci retracement. Furthermore, the RSI is deeply overbought right now.
All those reasons together make me think this could be a nice reversal zone for this pair.
I'll let you know if i'm getting involved.
If you have any questions, feel free to ask below.
Otherwise, see you in the next chart!
Pay attention to this zone! EURCAD analysisHi guys,
earlier today i've posted another idea about this pair, but the scenario is now changed. As you can see price broke through the previous support and it's now sitting right into previous resistance (that should also provide some selling pressure).
In this resistance zone we also have some confluence: a bat pattern (just completed), a psychological round number (1,4100) and a 618 fibonacci retracement. Furthermore, the RSI is deeply overbought right now.
All those reasons together make me think this could be a nice reversal zone for this pair.
I'll let you know if i'm getting involved.
If you have any questions, feel free to ask below.
Otherwise, see you in the next chart!
Previous Support Becomes Resistance
Hey guys,
some simple price action analysis here. On the daily timeframe price is going to retest previous support that once broken should become resistance. On the lower timeframe (4h) we can see some different clues pointing in the same direction: first, a butterfly pattern that's completing very close to the structure (black line), second, a .618 and a .382 fibonacci retracements, third, an AB=CD pattern that's completing just a bit above the black line.
So, what i would do is wait for price to enter the blue zone and see what's the price reaction to that level, while looking for some weaknesses signals, in order to sell at market.
I'll keep you updated.
If you have any question, feel free to comment below.
Otherwise, see you in the next chart!
Previous Support Becomes ResistanceHey guys,
some simple price action analysis here. On the daily timeframe price is going to retest previous support that once broken should become resistance. On the lower timeframe (4h) we can see some different clues pointing in the same direction: first, a butterfly pattern that's completing very close to the structure (black line), second, a .618 and a .382 fibonacci retracements, third, an AB=CD pattern that's completing just a bit above the black line.
So, what i would do is wait for price to enter the blue zone and see what's the price reaction to that level, while looking for some weaknesses signals, in order to sell at market.
I'll keep you updated.
If you have any question, feel free to comment below.
Otherwise, see you in the next chart!
EURCAD 100 PIPS SELL OPPORTUNITY IT LOOKS LIKE A BREAK OUT AND IT RETESTED THE TRENDLINE SO I AM WAITING IT ON THE SUPPORT ZONE TO HIT TP @1.38700
Eurcad seems Strong sellEurcad Trading around 1.4168 Where on Monthly its change its trend up to down if Eurcad hold below 1.45 soon we can see 1.31-1.33 level where Strong support seems around 1.4040 a little support it can hold where if hold above a upward toward 1.43-1.44 we can see where if breaks 1.4040 and hold below next target may b 1.32-1.33
