Pika7993

Direction analysis with manual potential pivots

FX:EURCAD   Euro / Canadian Dollar
This is a technical directional analysis based off support and resistance.

If we get continued rejection with a strong pivot around 1.55000 range I expect a support retest of 1.54000 and 1.53000 with a 1.54000 break.

If we can break through 1.55000 current retest I expect a potential retest as mapped with the dotted green arrow on charts. Those resistance levels are potential pivots in direction to top resistance of 1.57400.

MACD/SIGNAL have made a slight cross looking for continuation. RSI has been consolidating in overbought zone with low momentum. A break in RSI consolidation will largely help forecast true direction.

Please comment with thoughts and ideas. Thank you.
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