Display:
EURCAD
Description: As shown above we have
EURCAD
. I was going through pairs and noticed this TL i drew a while back has been broken majorly,
Also as we can see price failed to break above monthly resistance 1.50250 3 times since the later part of February. Resulting in price decline consequently breaking out of
the Trend.We could see a clean break of Monthly Support during the early part of next week if there is no retracement before or around Monthly Supp/BLUE Box Key
Level.
I would then wait for a Possible Retracement back to Monthly Resitance/Supp 1.41900 to short this pair.
However if we get a retracement i'll expect price will break monthly Supp Bounce around the Key Level then i would look to enter at around 0.382 - 0.618 preferably a
rejection of the 200 EMA (PINK) with stops at Daily Resistance 1.43800.
Indicators: On the Daily we are trading below both EMA'S which also seem to be crossing to the Downside,Monthly below 200 and just crossing below the 50. Daily
we have a Bearish Cross very likely to happen.
Duration: Long Term
EURCAD
Description: As shown above we have
EURCAD
. I was going through pairs and noticed this TL i drew a while back has been broken majorly, Also as we can see price failed to break above monthly resistance 1.50250 3 times since the later part of February. Resulting in price decline consequently breaking out of
the Trend.We could see a clean break of Monthly Support during the early part of next week if there is no retracement before or around Monthly Supp/BLUE Box Key
Level.
I would then wait for a Possible Retracement back to Monthly Resitance/Supp 1.41900 to short this pair.
However if we get a retracement i'll expect price will break monthly Supp Bounce around the Key Level then i would look to enter at around 0.382 - 0.618 preferably a
rejection of the 200 EMA (PINK) with stops at Daily Resistance 1.43800.
Indicators: On the Daily we are trading below both EMA'S which also seem to be crossing to the Downside,Monthly below 200 and just crossing below the 50. Daily
we have a Bearish Cross very likely to happen.
Duration: Long Term