EURCAD: An upcoming BEARISH WAVE?
Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis📈 and Trading Tips📉, support the idea hitting the LIKE👍 button and don't forget to SUBSCRIBE✔️ my channel, you won't miss anything!
🟢Forex Pair:
EUR/CAD
⚪Technical Analysis:
Since the end of December 2020, the price has been moving with a strong downtrend, breaking through the main S/R level at about 1.54200 but quickly back above the same level.
On the 28th of January 2021, the price reached an interesting S/R zone at about 1.56000, that rejected it many times in the past.
Few re-tests on the same level and the price started falling down again, trying to reach now its previos support zone.
If you would like to have a quick look on my previous analysis, you can click the link below:
🔴Conclusion:
In the daily perspective the price is clearly following a strong descending channel and it seems is starting a new bearish wave.
I'm confident to see the price breaking through the support zone at about 1.54100, falling down until its next support.
I'm already holding a short position on this trade and I'd add a new short position if the price will properly break the level 1.54000.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
EUR/CAD
⚪Technical Analysis:
Since the end of December 2020, the price has been moving with a strong downtrend, breaking through the main S/R level at about 1.54200 but quickly back above the same level.
On the 28th of January 2021, the price reached an interesting S/R zone at about 1.56000, that rejected it many times in the past.
Few re-tests on the same level and the price started falling down again, trying to reach now its previos support zone.
If you would like to have a quick look on my previous analysis, you can click the link below:
🔴Conclusion:
In the daily perspective the price is clearly following a strong descending channel and it seems is starting a new bearish wave.
I'm confident to see the price breaking through the support zone at about 1.54100, falling down until its next support.
I'm already holding a short position on this trade and I'd add a new short position if the price will properly break the level 1.54000.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.