Euro /Đô la CanadaGiá xuống
EURCAD took a nose dive, are we going to see further downside?
Hi traders,
EURCAD made a critical bearish breakout below the daily support level and ascending trendline.
.
The daily candles close below this level signals that the bears remain in control.
.
Currently, the price is building a bullish retracement within this downtrend. The pullback is most likely part of corrective wave 2 pattern, which therefore could see a bearish bounce at the Fibonacci retracement levels.
.
Considering that 38.2 Fib ratio lined up with a strong resistance level, we will be watching for possible reversal at that zone and look for a breakout of the blue counter trend line to take advantage of this bearish continuation setup.
.
Price has the potential to move down towards Fib -27.0 & -61.8 ratio if the Wave count is correct.
.
Thanks for reading!
EURCAD made a critical bearish breakout below the daily support level and ascending trendline.
.
The daily candles close below this level signals that the bears remain in control.
.
Currently, the price is building a bullish retracement within this downtrend. The pullback is most likely part of corrective wave 2 pattern, which therefore could see a bearish bounce at the Fibonacci retracement levels.
.
Considering that 38.2 Fib ratio lined up with a strong resistance level, we will be watching for possible reversal at that zone and look for a breakout of the blue counter trend line to take advantage of this bearish continuation setup.
.
Price has the potential to move down towards Fib -27.0 & -61.8 ratio if the Wave count is correct.
.
Thanks for reading!
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.