forecasting the moving averages to bullish nights
The 20 day moving average has frequently capped price action and presented great sell opportunities. Selling on any failed attempt of price to move higher than the 20 DMA is advised with stops at least 50 points above the 20DMA.
EURCAD D1 Symmetrical Triangle, break out either direction Broadening Wedge Inside Triangle which usually Sells Off 55% (Bulkowski ) 100 and 200 ma crossing suggests Down Trend Right now price is stymied by 100ma on WK Volume needed to push lower. Price resistance above by 50 ma. Volume needed to move lower. Historically in downtrends price remains below 50ma...
A DAILY CLOSE ABOVE RANGE RESISTANCE INDICATES POTENTIAL FURTHER UPSIDE, A CLEAR BREAKOUT OF LONG TERM RANGE EXPOSES 1.2520's THE 150 DAY MA THAT WAS PREVIOUS RESISTANCE ON 4H CHART HAS BEEN BROKEN, A POTENTIAL MA CROSSOVER TO THE UPSIDE CANNOT BE RULED OUT EITHER - ADDING TO FURTHER CONFIRMATION OF UPSIDE POTENTIAL A RETEST OF PREVIOUS RESISTANCE TURNED SUPPORT...
If this pattern repeats and if there is a new bullish moving average cross then the bulls can push the price much higher, similar to February 2015. P.S. I used my own MACD script, which you can get here: