We can see that the pair has formed a nice Double Top at a major level which is why I'm considering short positions for the near future. Looking at the bigger picture we could be in a Flat ABC correction, whichever the case maybe I'm looking towards the downside. A break of the upper trendline should provide even more confirmation, while at the same time we can see that a Bearish Divergence is in play.
From a fundamental standpoint we have the release of Canada's employment figure today so pay attention as it will cause a lot of volatility.
Trade safe and do your own due diligence before executing a trade.
For further details such as Entry price, Stop levels etc join us at:
www.valuedbusinessconsulting.com/
From a fundamental standpoint we have the release of Canada's employment figure today so pay attention as it will cause a lot of volatility.
Trade safe and do your own due diligence before executing a trade.
For further details such as Entry price, Stop levels etc join us at:
www.valuedbusinessconsulting.com/
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the even bigger picture
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numerous possibilities..for the near future though bias remains bearish
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setting up for the drop...