Since gapping up, price has tested and respected a major support/resistance area bounced up from it. Today we've seen price has touched this major support level and price did pierce through but quickly pulled backed and has respected this level. Zooming in on the 4H time frame, candlestick pattern confirms a reversal in the downtrend to an uptrend is probable and...
The pair is trading within an ending diagonal. We should short at the rejection of the Triangle Resistance with Profit taken at 50% or 61.8%
Due to the falling wedge pattern the price has appreciated, now it is time of correction before moving further upwards. We go Short on this pair at the current level and book our profits at 1.3950 level.
PRICE TOUCHED THE 01.46517 FIBONACCI RESISTANCE LEVEL. IF PRICE FALLS ENTER TRADE BELOW THE 1.45994 LEVEL WITH A STOPS LOSS ABOVE THE 1.46186 LEVEL. PROFIT TARGET SHOULD BE THE 1.1415 LEVEL.
EURCAD 4H Bullish Patter about to be compleated Entry is from D point and targets acording to FIBO 23 38 50 61 EURCAD4H Bullish Patter about to be compleated