1.50892-1.50573 is important structure for EURCAD
This zone was a nekline for bearish harmonic pattern
Now it has reached resistance level 1.51046(0.618)
Price action also shows bearish sign with pinbars
Therefore we can short here
Target1: 1.48800
Target2: 1.47600
Stop Loss: 1.51800
This zone was a nekline for bearish harmonic pattern
Now it has reached resistance level 1.51046(0.618)
Price action also shows bearish sign with pinbars
Therefore we can short here
Target1: 1.48800
Target2: 1.47600
Stop Loss: 1.51800
Trade active
Comment:
Nice momentum
Trade closed: target reached:
What a perfect move after interest rate hike
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