khansalarehsan

A great opportunity for Shorting EURCAD

Short
FX_IDC:EURCAD   Euro / Canadian Dollar
What you see here is Weighted average EURO on daily Timeframe .
Since the beginning of the New Year it has been trading below EMA 14, 21 and 50. Also try to find the massive H&S here. Did you see it …?


If I zoom out and go to Weekly Timeframe , you will see the blue triangular better. It is right at the resistance and it took two years for this triangular to get formed. Now… I think it is time to break lower


The chart below is weighted average CAD and it is pretty much self-explanatory. CAD is rising…


If CAD is rising and EURO falling then EURCAD is a great trade.
Now look at EURCAD Chart and see if you can find the target. Yep it is right at the rising trend line . I think it takes a few weeks to get there.
Regards,
Khan
Dr. Ehsan Khansalar