MarlyForex
Short

EURCAD -- SHORT -- CONTINUATION TRADE 370 PIPS!!

FX:EURCAD   Euro Fx/Canadian Dollar
92 2 16
Display: FX:EURCAD            

Description: As shown above we have FX: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


Fouad.H.
11 months ago
This one's made me scratch my head. I tend to favour a deep decline towards 1.30
Reply
aiadeadman
10 months ago
looking good
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out