Forex Positive
Short

EURCAD ready to reverse

FX:EURCAD   Euro Fx/Canadian Dollar
EURCAD             ready to reverse

EURCAD             has broken below the support zone of 1.4060-90. This strong support zone has held nicely since the beginning of Feb. And of most importance, there are at least 5 touches in this red rectangular zone since Feb.

With 5 or more touches, a breakdown of this zone is a strong bearish technical indication. If EURCAD             rallies to re-test this zone, expect it to become a strong resistance. Look to short if EURCAD             retraces to the 38.2% FIB retracement at 1.4090-00.

Short EURCAD             1.4090-00
SL 1.4150
TP 1.3800

=====
www.ForexPositive.com
Twitter @ForexPositive
=====
Ideas Scripts Chart
United States
United Kingdom
India
España
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 Billing Sign Out