". There is still a possibility of temporary retracement to suggested resistance line (1.5535).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
. EURCAD is in a range bound and the beginning of downtrend is expected.
. The price is above the 21-Day WEMA which acts as a...
Hy dear members hope you all are earning good with our idea and Analysis.
Now we are here to discuss about EURCAD. In daily timeframe it has Breaked the falling Wedge and now it has maximum Chances that it will go up to the Price level 1.59400
After Completing a small Retesting
Keep in touch we will update further soon
Stop loss: 1.54574
Take Profit: 1.57270
Follow me on twitter @KhaIid_Alhasani to see all my trades, if you are a newbie please start with small lot size, I will tell you when to close half of your position to bank some profit
Don't change the stop loss even if the price was almost there!
EURCAD bounced off the descending channel support as expected from my previous analysis.
Price is testing the descending channel resistance.
RSI is printing a bearish divergence signal.
Sell entry ⬇️ - breakdown below the previous swing low.
Target - descending channel support.