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.
EURCAD can show a reversal from the mentioned zones.
FX: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....
What do you all think about this setup ? 38 pipes Risking for 85 pipes of reward, if the price move as according we can see EURCAD falling till 1.34800.
eurcad sell 1:8 risk ........ all the best................
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 Short Risk/Reward: 1:4 Give a Like and Feel free to share your opinions in the comment! Happy Trading 😊
EURCAD 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 ... ...
Today 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...