Seems to be a good setup. Short EURCAD if it breaks the trendline.
Eurcad Trading around 1.4590 where Strong resistance around 1.4640 and Weekly pivot point is 1.4685 on that base sell eurcad in range of cmp 1.4590 - 1.4650 SL above 1.47 Tp1 1.45 and tp2 1.4350
Looking to short at test of upward resistance down to recent lows
Short on the retest of the upward resistance trend line looking to short down to recent lows.
For the more aggressive trader, you may want to short at the upper trend line, alternatively wait for lower trend line break and correction before entering.
This looks like we have had a clean 5 wave impulse down followed by a 3 wave correction. I am short from 1.4789 with a stop at 1.4836. Target 1 = 1.4529 Target 2 = 1.4343. Please also note that the RSI is also turning around from the 60 level.
Price has hit the PRZ and is showing rejection at the moment. RSI is having a bearish divergence from the overbought level. I will short EURCAD on the next hour candle. SL : 1.48563 (127.2% extension of XC) TP1 : 1.47261 (50% retracement of CD) TP2 : 1.46395 (88.6% retracement of CD)
FX:EURCAD Safe Trades; open.spotify.com
EURCAD has formed an ending diagonal 5th of 5th wave. We should see lower prices from here on. Market currently at 1.4840
Eurcad Seems Strong Resistance and double top around 1.4875 level currently trading around 1.4775. Advice to sell in range of 1.4770-1.4850 SL above 1.49 where tp1 1.4650 tp2 1.4550
Waiting for a small consolidation or a retest towards the support turned resistance before shorting.