Possible short opportunity on EURCAD.
There has been rejection at resistance (previously was support) and momentum may be turning bullish.
If price moves below the 200 day EMA this gives an indication of bearish momentum and so we could see price break the trend line at 1.5490 and head to the 1.5340 level or the 1.52000 level. At these levels, we have seen bullish momentum and so these areas could take profit targets.
There has been rejection at resistance (previously was support) and momentum may be turning bullish.
If price moves below the 200 day EMA this gives an indication of bearish momentum and so we could see price break the trend line at 1.5490 and head to the 1.5340 level or the 1.52000 level. At these levels, we have seen bullish momentum and so these areas could take profit targets.