I'm still sticking to my weekly & monthly analysis of EURCAD.
I'm predicting price to reverse the overall trend is still bullish on the monthly time frame also the twist on Weekly indicates a reversal.
However price may keep going down since it broke through both MAs.
However price broke through the 9 day MA @1.52204
Price also broke through the 26 day MA @1.52932.
Price broke through the bottom of the cloud @1.51276.
Also the lagging span I forgot to mention in the Weekly & monthly analysis is pointing towards the downside as the daily.
The daily chart is strongly indicating a short, however I'm sticking to my long time frame analysis.
We'll see how it plays out currently in a 18 pip drawn down.
I set a tight stop loss to experiment is price respects the higher time frame trend/analysis. We'll see how it plays out.
If I get stopped out, I may look for shorts.
Entry @1.51291
TP 390 pips
SL 29pips
I'm predicting price to reverse the overall trend is still bullish on the monthly time frame also the twist on Weekly indicates a reversal.
However price may keep going down since it broke through both MAs.
However price broke through the 9 day MA @1.52204
Price also broke through the 26 day MA @1.52932.
Price broke through the bottom of the cloud @1.51276.
Also the lagging span I forgot to mention in the Weekly & monthly analysis is pointing towards the downside as the daily.
The daily chart is strongly indicating a short, however I'm sticking to my long time frame analysis.
We'll see how it plays out currently in a 18 pip drawn down.
I set a tight stop loss to experiment is price respects the higher time frame trend/analysis. We'll see how it plays out.
If I get stopped out, I may look for shorts.
Entry @1.51291
TP 390 pips
SL 29pips
