Eurcad Swing Position in downside with an amazing Reward to Risk
Price has formed a Monthly Source Supply and a Quarterly Destination Demand and now we have a downward confirmation in Weekly with a Supply fomed which also has a Deviation from the EMA which indicates a very strong imbalance in the Price Action.
Eurcadsell
EURCADFX:EURCAD
As you can see that (For MONDAY 17-07-2023), EURCAD has created Double top pattern in 15Min Time frame at the important resistance level. If it breaks the drawn neckline, we can go for sell side and capture some pips. Always go for retest entry to avoid fake Breakouts. Plan your trade accordingly....
EURCAD Sell Next Week (300+ pips) 📉Condition:-
1. Price reached monthly/weekly/daily resistance level
2. Price reaching previous demand area
3. Monthly price reached 0.382 Fibonacci level
4. COT - 1. EUR ⬆️ 2. CAD ⬇️
Entry:-
1. All the important prices are labelled in the chart
2. Study the chart precisely
3. Enter on 4hr
4. Enter when MACD and 10&20 ema go down
ALL THE BEST!
EURCAD 4HR FORECASTEURCAD Currently in Resistance Zone ..What we can expect.....
1) RED
Price break the resistance level and move downwards for correction and NOW resistance zone act as
Support Zone then GO LONG @ 1.55150
Take Profit @ 1.56280
2) BLUE
Price fails to break resistance and return to Support Zone and then it make a move towards resistance ...
Since it was fresh Zone can GO SHORT @ 1.55010
Take Profit @ 1.54200
26 Sept, Full Market AnalysisToday USD,NZD Is Syncing.(cad strength, USD strength and nzd temporary strength)
CAD- It made move at the same time when USD news came in into the markets. however, it's not syncing. FX:AUDCAD and FX:NZDCAD reacting differently. I know why because nzd has it's own sync and aud is following the nzd that's why they're doing their own thing. but it has a purpose and has volume and also many sister pairs. this is absolutely tradeable. FX:EURCAD FX:CADCHF FX:CADJPY FX:GBPCAD
USD- It has sync. and also yesterday had the news as well. i can see some making moves and in FX:NZDUSD and FX:AUDUSD and in FX:USDCAD . have liitle bit ofsync because of the same reason. pairs from USD group are FX:EURUSD and FX:USDCHF and FX:USDJPY .
NZD- It's in sync. but I don't like it because this is weak in daily tf and also no purpose behind the moves however it has volumes may be because of market opening. so no pairs from this group.