EUR/CAD RSI Resistance . Shorting to our Blue Support zone
Updated
So a little more focus on the RSI on the 1 Day time frame, We have placed a Resistance line at 48.1 on the RSI and we're shorting it either to the blue resistance zone, also the (A) correction.
This trade would be invalid if rsi break through the resistance line and close above it. If RSI closed above then it's a good chance it will make a good move to the upside BUT not necessarily meaning that (A) correction is complete and moving to (B). It may just bounce off of the Rsi support trend line above it.
This trade would be invalid if rsi break through the resistance line and close above it. If RSI closed above then it's a good chance it will make a good move to the upside BUT not necessarily meaning that (A) correction is complete and moving to (B). It may just bounce off of the Rsi support trend line above it.
Note
I've put out a video going a bit more in depth as to how I see this pair is going to be moving along with EUR/ USD as they will be moving relatively the same for a while. Check it out and subscribe, Ill be putting out more In-depth analysis on there.
youtube.com/watch?v=2ew-y3gd1vw
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