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VladimirRibakov

EURCAD Short Term Sell Idea - Multi-timeframe Analysis

Short
Euro / Canadian Dollar (FX:EURCAD)  
VladimirRibakov  
FX:EURCAD   Euro / Canadian Dollar
Trend Analysis Multiple Time Frame Analysis Wave Analysis EURCAD short SELL Bearish Patterns doublewave magnetzone Bearish Trend Line
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trendanalysis mtfa waveanalysis eurcad short sell bearish doublewave magnetzone bearishtrendline
D1 - Potential double wave down.

While measuring the first wave we could see that the price still has room lower towards the 61.8% fibonacci expansion level.

H4 - We have a magnet zone formed by the 161.8% fibonacci expansion level of the H4 first wave and the 61.8% fibonacci expansion level of the daily first wave.

Price still has room lower towards this magnet zone.

Until the downtrend line holds I expect the price to continue lower further after pullbacks.
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