EURCAD - Daily bearish divergence

FX:EURCAD   Euro / Canadian Dollar
211 9
The weekly chart of EURCAD shows price slightly over value, which has been an usual place for reversals to take place.

On the daily chart , there is a class A bearish divergence with 3 no demand bars.

Stop above 1.43, first target at the area between 1.35 - 1.36, secomd target around 1.30
Hi Gents, can I add my 2 cents (not sure if that's a common expression)
On the 4H chart Is there a Head and Shoulder. Also I notice a rising wedge and a break below support 1.3993 could be the start of a long bearish move. Do you see that also?
vlad.adrian DerekUweri71
I see a h&s but no rising wedge..
DerekUweri71 vlad.adrian
Yes, the RW is a bit suspect.
Price has not breached the 1.3993/1.3985 support. Yet.
DerekUweri71 DerekUweri71
Double Bottom could be forming.
Looks good mate.
vlad.adrian IvanLabrie
yep, thank you!
IvanLabrie vlad.adrian
I want to short GBPCAD soon.

Each of the red arrows is a potential reversal date.
+1 Reply
vlad.adrian IvanLabrie
I am long GBPCAD :d
IvanLabrie vlad.adrian
Good, it will rebound hard soon.
Might be good to reload longs, and/or take a short.
+1 Reply
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