Here are my reasons...
1. Prior to price intercepting the uptrend on the daily chart, price has formed a downtrend (channel) on the H4 time frame.
2. Price has intercepted the previous HL thus creating a new LH AND LL.
3. Price is heading towards point 3 to create a new LH, AND THAT'S WHERE I EXPECT SELLERS TO COME IN PUSHING PRICE DOWN AND DOMINATE IT.
SO,...
I predict that EURCAD will go short as soon at it touches both the trend line and horizontal zone, here are my reasons...
1. A wave of sellers have proven to enter the market on the horizontal zone, thus pushing the market down.
2. Price has intersected the previous HL, creating a new LL.
3. Price seems to be heading up to create an new LH with alignment to the...
i think EURCHF is heading up, as we can see that the downtrend has been intersected on the daily chart, as the market failed to create a new LL a new uptrend has formed this past week, creating not one but two new HH.
WHAT DO YOU THINK?