Technician
Short

EURCAD : Bearishness Evolves

FX:EURCAD   Euro Fx/Canadian Dollar
914 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
ForceFollower
2 years ago
I agree. Worth looking for a short entry here.
Reply
motleifaul
2 years ago
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
alex.a
2 years ago
fantastic ~
Reply
alex.a alex.a
2 years ago
But, it preclude EURO will start bear moves... will it???
Reply
Technician TOP alex.a
2 years ago
Welcome Back alex, long time no see. preclude?
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out