EURCAD Approaching Resistance, Prepare For A Reversal
Sell below 1.5311.
Stop loss 1.5426.
Take profit at 1.5088.
Reason for the trading strategy (technically):
EURCAD is approaching its resistance at 1.5311 (61.8% Fibonacci extension, 76.4% & 38.2% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.5088 (50% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.
Stop loss 1.5426.
Take profit at 1.5088.
Reason for the trading strategy (technically):
EURCAD is approaching its resistance at 1.5311 (61.8% Fibonacci extension, 76.4% & 38.2% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.5088 (50% Fibonacci retracement).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.