Technician
Short

EURCAD : Bearishness Evolves

FX:EURCAD   Euro / Canadian Dollar
917 5 12
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
I teach my experience conclusions in 10+ trading strategies. PM me for details and cost.
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
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
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
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder 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 My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out