Pay attention to this zone! EURCAD analysis

FX:EURCAD   Euro / Canadian Dollar
Hi guys,
earlier today i've posted another idea about this pair, but the scenario is now changed. As you can see price broke through the previous support and it's now sitting right into previous resistance (that should also provide some selling pressure).
In this resistance zone we also have some confluence: a bat pattern (just completed), a psychological round number (1,4100) and a 618 fibonacci retracement . Furthermore, the RSI is deeply overbought right now.
All those reasons together make me think this could be a nice reversal zone for this pair.
I'll let you know if i'm getting involved.

If you have any questions, feel free to ask below.
Otherwise, see you in the next chart!
Trade active: Shorted at the Bat's completion
Trade closed: stop reached
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano:
Ultimo video:

If you agree, like this chart! Thanks
My last (english) videoanalysis here:
USD/CAD But it's still a valid sell order, isn't ? It looked so promising :-(
+1 Reply
Roker1 Glendooie
@Glendooie, it doesn't fit my rules anymore so i wouldn't be interested in entering a position. I know it looked promising but we should never forget that markets are a random environment, we can assume our performance over the lung run, but we cannot have control on the single trade.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out