EURCAD H4 Sell Setup Identified
For this setup we have:
-Supply zone
-Trendline resistance
-Major 50.0 Fibonacci retracement
-Minor 61.8 Fibonacci retracement
-Minor 161.8 Fibonacci extension
-Bearish divergence
Based on the technical setup that has been identified it makes a strong case EURCAD weakness, another key point of confluence for this setup is that Oil has found support at a significant technical level, therefore if Oil prices continue to rise, we should expect CAD strength.
Aggressive SL: 1.47280
Conservative SL: 1.47670
TP1: 1.45790
TP2: 1.45370
TP3: 1.44920
TP4: 1.44150
Please feel free to send me a message in regards to any questions, feedback or suggestions that you may have.
Enjoy!
-Supply zone
-Trendline resistance
-Major 50.0 Fibonacci retracement
-Minor 61.8 Fibonacci retracement
-Minor 161.8 Fibonacci extension
-Bearish divergence
Based on the technical setup that has been identified it makes a strong case EURCAD weakness, another key point of confluence for this setup is that Oil has found support at a significant technical level, therefore if Oil prices continue to rise, we should expect CAD strength.
Aggressive SL: 1.47280
Conservative SL: 1.47670
TP1: 1.45790
TP2: 1.45370
TP3: 1.44920
TP4: 1.44150
Please feel free to send me a message in regards to any questions, feedback or suggestions that you may have.
Enjoy!
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.