double top formation, we are under neckline, slope resist ahead, going short right now, tight sl, good RR
bigger picture
update: comments
Comments
ForceFollower
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Basically I agree. Just bear in mind there's support below at 0.91555 and perhaps also at 0.9106. But, other than that, it is probably on its way down to Ret-0.382.
itaskar
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yep, but more important is for me this double bottom, didnt notice it before, it indicate move up, maybe the break retest is comming(res 0.9280-0.9300)
itaskar
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I am bit cautious in this pair now because the slope double bottom in 240(picture above), and this weekly , where we can see solid support. Will watch the red line here , if it can hold. When this red line will fail, and we will find again support on, it will be strongly bullish(there is also double bottom ,marked with blue, possible). In this case will be the whole move from 24/7 just a flush in bigger picture.
ForceFollower
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A very nice weekly trend. The CAD's prolonged weakness made me abort the CADJPY long position. I'm still short EURCAD though, but the EUR's recent strength is overextended and I expect it to weaken soon. The NZD is long-term the weakest of the majors, but short-term it is pretty neutral, that's why you felt it was fighting you. But the general outlook for NC is rather bearish I think: