This is a potential long on the EURCAD. As you can see on the weekly chart above the pair has been trending lower within the past months, however have reached a potential area of interest
-The 50-percent retracement for the overall bullish trend
-The long term 52-week Simple Moving Average
-At the descending support for a broadening formation.
-RSI is signalling a bullish divergence
First potential target could be at 1.4170. while a break below the 52-week SMA at 1.3760 would negate this scenario.
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-The 50-percent retracement for the overall bullish trend
-The long term 52-week Simple Moving Average
-At the descending support for a broadening formation.
-RSI is signalling a bullish divergence
First potential target could be at 1.4170. while a break below the 52-week SMA at 1.3760 would negate this scenario.
Trade forex with me, check my new website thefxchannel.com/ , vote and subscribe , thank you...
come join me at twitter.com/thefxchannel
www.facebook.com/thefxchannel
Google Plus : plus.google.com/+Thefxchannel0/posts
My best regards,
Technician