Eurcadsetup
EUR/CAD Multi-Timeframe analysisHi Traders
EUR/CAD Multi-Timeframe analysis
H1 CHART ( BEARISH )
Waiting for a retracement higher towards the 1.53175 resistance level in order to reinstate SHORT positions. Next important resistance is the 1.53780 level.
Support & Resistances
1.52790 1.53175
1.52213 1.53780
1.51227 1.54766
H4 CHART ( BEARISH )
A medium high probability, entry signal to go SHORT was given at 1.53151 after the market found resistance at 1.53804 . Only the upward break of 1.53804 would cancel the bearish scenario.
Support & Resistances
1.53120 1.53782
1.52821 1.54414
1.52255 1.54980
DAILY CHART ( NEUTRAL )
The market is dominated by uncertainty. The occasionally prevailing trend lasts for a limited time and changes its direction too frequently. As long as the market remains unstable, we stay aside, waiting for the market to get back on track.
Support & Resistances
1.52666 1.54016
1.50744 1.55924
1.47486 1.57096
WEEKLY CHART ( NEUTRAL )
The market is dominated by uncertainty. The occasionally prevailing trend lasts for a limited time and changes its direction too frequently. As long as the market remains unstable, we stay aside, waiting for the market to get back on track.
Support & Resistances
1.52666 1.59912
1.50518 1.62060
1.47707 1.64871
EURCAD shortas we see eurcad just hit the monthly trendline and just like it did before it revearsed down and for right now we also see the head and shoulder pattern forming.
what we expect this last week of this mont is the retracement to the 61.8% or the 78.6% level, it can also head downwards.
tp levels are the given levels.
have a good week.
EURCAD: Diagonal pattern is over,
The pattern has finished in the range of 1.5461, the first confirmation for the buy order will be received when, the price crosses the range of 1.5592 . Also by crossing the price from the range of 1.5310, this analysis will be violated. The potential volume of target for the uptrend is too high and around 500 pips.