EURCAD is trading close to the neckline of the head and shoulder pattern on the 4H chart. As soon as we get a single 4h close above the neckline, we enter a buy trade with stop loss at 1.45501 which is the approx depth of the shoulder. The up move in the pair is also supported by the daily candlestick pattern that formed a bullish engulfing pattern two days back....
Midterm forecast:
While the price is above the support 1.4750, beginning of uptrend is expected.
We make sure when the resistance at 1.5285 breaks.
If the support at 1.4750 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
While the RSI resistance #1 at 62 is not broken, the probability of price increase would be too...
Midterm forecast:
While the price is above the support 1.4750, beginning of uptrend is expected.
We make sure when the resistance at 1.5285 breaks.
If the support at 1.4750 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed...
Midterm forecast:
While the price is above the support 1.4750, beginning of uptrend is expected.
We make sure when the resistance at 1.5360 breaks.
If the support at 1.4750 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is...
Midterm forecast:
While the price is above the support 1.4750, beginning of uptrend is expected.
We make sure when the resistance at 1.5115 breaks.
If the support at 1.4750 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The RSI bounced from the resistance #1 at 48 and it prevented price from more gains.
A peak is...
EUR expect going to up as per our opinion.The Industrial Out-put Demonstrates the volume of Generation of Slovakian Businesses like Manufacturing and Factories . Uptrend is regarded. FOREX IN WORLD
After breaking the H&S neckline it is retesting on Daily time frame with little support in curve trendline and daily candle looks like an inverted candle (Since few more hours to go) if we get inverted candle then the break of curve trendline will bring the pair down to next support zone. If we go down the time frame it has beautifully rejected the neckline.
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