AgentSmith
Long

Potential Double Top on ECAD

FX:EURCAD   Euro Fx/Canadian Dollar
48 0 2
I managed to get a good long entry @ 1.4080 on this pair. Looking for a new high to be made and ultimately a double top too in the 1.45 area before a sizeable drop into the 1.36 area. This coincides with the bearish rising wedge pattern we see on the chart which hints at lower prices in the weeks to come.

In the meantime we could see a week's worth of consolidation at this top where hopefully a couple of daily upside wicks and probably some divergence in momentum indicators should provide further validation in initiating short positions for the long ride down!
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