EURCAD Daily Short Reversal

9 May 2017

EURCAD is near previous tops and at overbought levels. RSI is coming down from overbought levels, PPO and MACD are both close to bearishly crossing over. Todays low went below the 8d EMA for the first time since 4/18 if it closes below the low I think that will be significant. If it holds below the 8 EMA along with confirmation from MACD, PPO, and SAR then I will short and am expecting support near either the 100d MA, 200d MA, or the 1/3, 2/3 lines.

100d MA: 1.4219
200d MA: 1.4369

Weekly Support Pivots:
P: 1.5007
S1: 1.4898
S2: 1.4830
S3: 1.4722