EURCAD: Bearish Momentum in Play

19 thg 11

Hello Traders,

Trust trading has been awesome for you.
Please find below my analysis of the EURCAD currency pair from H4 perspective.

Trend & Sentiment
The pair remains bearish, forming lower highs and lows. Sellers maintain control, though the current consolidation suggests temporary indecision, even though price is facing resistance around the 1.48591.

Key Levels:
Resistance: 1.48591
Support: 1.47211

Possible Movement
A break below the equilibrium at 1.47993 could accelerate bearish momentum toward 1.47211 and 1.45831. A short-term pullback to the resistance at 1.48591 is possible (as we saw the buyers temporarily pushed above this region and closed back below it) but likely to face renewed selling pressure.

Short-Term Target: 1.47800
Medium-Term Target: 1.47211
Long-Term Target: 1.45831.
This trade may last from now till 22nd November or beyond to fully unfold.

Conclusion
The bias remains bearish, with a focus on the downside targets unless the price breaks above 1.48898 to challenge the trend.

Cheers and happy trading!

19 thg 11

Giao dịch đang hoạt động

First Target hit quickly and with pressure. (+45pips)

20 thg 11

Đóng lệnh: đạt mục tiêu

This trade has done +68pips so far, more still to go.

22 thg 11

Ghi chú

All targets hit