Great opportunity to short EURCAD cross with a good risk reward ratio !!
Great opportunity on EURCAD cross. Short on dynamic resistance with interesting risk/reward ratio.
From what I see the Euro Cad is having a little correction could be a deeper one I'm not sure , I tried to show you the three strategies I have in place for this trade. I would prefer it be really deep so the up move can push higher . this is what I see so far will edit along the way Kris www.mymentortv.com
The common European currency has recently reached the resistance of a rather large scale descending channel pattern against the Canadian Dollar. This resistance has been holding its ground for three times during the last weeks. The reasons for the various attempts of the Euro to break through can be found in the various support levels below the currency...
Looks like we can expect some bearish momentum next week. Looking for a potential entry.
USDCAD is testing a major downtrend and has a high probability of breaking out. Cheers!
The Last week, the price ended a diagonal with its respective 5 waves, I hope the price doesn't exceed 1.4880, im looking a regression to close 1.14850 and my tp is in 1.46
Currency pair - EUR.CAD Chart timeframe - 1hr Chart pattern - Bullish Bat ( x3 ) Bullish Bat ( Blue ) D leg completion - 1.4654 Target 1 - 1.4726 Target 2 - 1.4769 ------------------------- Bullish Bat ( Grey ) D leg completion - 1.4663 Target 1 - 1.4730 Target 2 - 1.4771 ------------------------- Bullish Bat ( White ) D leg completion - 1.4687...
Enter 88.6% Targets 38.2 and 61.8 Stops above X
1hr timeframe bullish bat. It is currently on its way to D. However, I am expecting a reversal before reaching D. I will be watching close for a clear sign. Thank you for taking a look at this idea
If the price respects the monthly resistance it could go down up to the next dynamic trend... FX:EURUSD
Price broke through support with a huge bearish engulfing candle now sitting above wedge trend line, I am expecting a slight pullback to broken support turning resistance then a break though wedge & retest to get some more downside to this pair. Will watch throughout the week how it plays out..