EURCAD Short to Weekly Support
Updated
If the daily support fractal breaks, price is likely to test the support level confluence of weekly 20 EMA and daily 0.382 Fib level.
This can be a setup for a push higher
Monthly
1. EMA’s Bullish
2. Price broken previous fractal resistance
3. Next resistance confluence with .272 extension
Weekly
1. Price has moved away from EMA’s
2. Moving back to EMA’s from fractal level
3. Will probably test previous month resistance
Daily
1. Price rolling over
2. EMA’s closing for bearish crossover
3. Support fractal about to break
4. Weekly 10 EMA and then 20EMA support
5. Weekly 20 EMA confluence with 0.382 fib retracement
This can be a setup for a push higher
Monthly
1. EMA’s Bullish
2. Price broken previous fractal resistance
3. Next resistance confluence with .272 extension
Weekly
1. Price has moved away from EMA’s
2. Moving back to EMA’s from fractal level
3. Will probably test previous month resistance
Daily
1. Price rolling over
2. EMA’s closing for bearish crossover
3. Support fractal about to break
4. Weekly 10 EMA and then 20EMA support
5. Weekly 20 EMA confluence with 0.382 fib retracement
Note
Spot on, now we need to see what price does hereTrade closed: target reached
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