From 1.6 top eurcad dropped almost 600 pips but the drop is not impulsive and has a very clear corrective move format. Also if we draw a Fibonacci from 1.51 support we can clearly see that this old resistance zone, now support, is confluent with 61% retracement and we can very well be in a "measured move" pattern.
That being said I will look for buy opportunities...
We can see price fell from a key level of resistance, its now retracing
We will wait for a break of structure before shorting this pair.. im expecting price to bounce off of one of the fibo levels then break structure
Once thats done we can look to short
This is a pairing i dont trade all that often, but it is also a pairing that respects levels really well. As we can see i have 1.60000 drawn on my chart where price hit is pin point and dropped 100+ pips so far.
I am expecting EUR weakness this week and i can see this pairing falling 1000+ pips over the coming months which would make a lovely trade if you are...
EURCAD has been ranging for a while, it is now at the top of the range on the 1H chart and there is an area of support just below it, I am waiting for price to break and then selling to the next level of support
I expect price to pull back before the trend continues, if the trend continues we can hold the position or enter another sell
- My first ever publish of the analysis. It has broken through the 4 hour resistance and retested. Now entered the trade for a long this could take along time to get to the TP.
- Please leave me any feedback which would be really appreciated on this forex journey.
In the 4-hour chart of #EURCAD, we see that the price broke out the wedge pattern.. It is likely that the price may retest the break-out line.. There can be a long setup opportunity for #EURCAD.. I expect a price action as I mentioned on the chart.. We will wait and see..
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