EURCAD TECHNICAL ANALYSIS

EURCAD DAILY

MARKET IS SIDEWAYS & MOVING AVERAGES ARE FLAT. PRICE IS BULLISH (5 EMA ABOVE THE 8 EMA) & IN THE PROFIT TAKING ZONE. STOCHASTICS OVERBOUGHT. AS BULLS BOOK PROFITS BEARS COULD SHORT THIS PAIR AND RIDE THE STOCHASTIC CYCLE ALL THE WAY TO OVERSOLD.

EURCAD H4

MARKET IS BULLISH, THE 21 IS ABOVE THE 55. PRICE TURNING BEARISH AS 5&8 ARE IN THE PROCESS OF CROSSING. PRICE SEEMS TO BE FORMING A DOUBLE TOP AFTER BURSTING THROUGH THE WEEKLY TARGET AND FAILING TO BREAK 1.49 RESISTANCE. SUPPORT IDENTIFIED BY THE GREEN BAR. NOTE THE 21 EMA ALSO ACTING AS DYNAMIC SUPPORT. A BREAK OF THE 21 AND A PULLBACK WOULD CONFIRM A SELL OF THE LOWER HIGH.

EURCAD H1

MARKET IS SIDEWAYS. PRICE IS ALSO SIDEWAYS. RESISTANCE IDENTIFIED @ 1.49 & PIVOT CLUSTER OF DM3, MR2 CONFLUENCE, DR1, DM4, & DR2. SUPPORT MARKED BY GREEN BARS. STOCHASTICS HEADING NORTH. IT SEEMS TO ME THE OLD MAN IS PREPARING TO GET INTO A WARM BATH SO I AM LOOKING FOR A BREAK OF SUPPORT TO THE DOWNSIDE AND A PULLBACK.

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