Technician
Short

EURCAD : Bearishness Evolves

FX:EURCAD   Euro / Canadian Dollar
917 views
12
917 5
In my previous analysis(see link below) for the pair I was looking for a new bearish wave of the resistance zone market above, indeed the price successfully retested and resumed the bearish wave, evolving to a bearish head and shoulders top pattern, and completed the pattern by breaking below the upwards slopping trend line . Accordingly, upside pullbacks remain shorting opportunities, with a stop just above the right shoulder.

Price is trading below my first target for the previous analysis, and am looking for extended targets now following the breakout. Full target of the pattern is around 1.4500.

Good Luck, Join me @
https://twitter.com/thefxchannel
fantastic ~
Reply
alex.a alex.a
But, it preclude EURO will start bear moves... will it???
Reply
Welcome Back alex, long time no see. preclude?
Reply
This was a very defeated level in January. I doubt that the rate will fall through now. I rather expect a retracement to 1.51 first, i.e. the neckline in your chart.
Reply
I agree. Worth looking for a short entry here.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Help Center Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out