thread: EUR/CAD

I am positioning short at 1.5255
SL: 1.5489
TP: 1.4491


It seems that the trand originated in 17/08/2012 has reaches it is maximum for the tide 3. Using Fibonacci growth we are just at 161%.
Furthermore ADX, Ichi and VRI indicate that the bear trend is strong.

What do you consider?

What do you consider a possible brief pennant?

With this bearlish candel yesterday, that we had I'm presuming to go long on EUR/CAD. Anyone going here or I missed something and I'm mistaken?

First doji candle in a few weeks for this pair, also it's pulling away from top BB band.

eur cad
On the daily chart, we're observing the head shoulders pattern at the top. Till May 8th its period is going to be fulfilled. According to down sloping trend in RSI, we're hoping to see a drop by using the neck broken around 1.4990
Good luck

http://forex-fa14.blogspot.com/

Stopped out without a reduction going to.

This is ready to fall with a break of current levels, 1.4990 is service. A break of the level along with also the H S pattern comes into play with targets of 1.4650 after which 1.4430.
Will be searching for brief next week

EUR/CAD has space too to go down.

Http://forex-fa14.blogspot.com/


About the H4 chart, we're celebrating the Crab pattern and the RSI indicator is moving down tendency simultaneously. Depending on the favorable divergence, we are expecting to see a growth of the price with the pair if the trend line is broken