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For nearly two months, the EUR CAD continues to fall to the bottom of the trip within the current bearish trend.
Where the pair strongly Hua down recently after breaking previous support at 1.3375 and turned
Resistance after closing below candle day.
But the latest period to have a reflexive model predicts the possibility of the end of the landing and return to resume the climb.
Where constitute our model (Wedge) on the daily frame, a reflexive model, and as we see Chart below
Price is now trading at the bottom of the wedge rib and the state proved above Baglaqat daily candles without breaking it
Then the bottom of the pair will start to rise and target 1.3375 resistance line or the upper wedge rib.
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Daily Forecast
Major Trend: Bullish
Time Frame: H1
Reason: Market still trying to get back to a correction in the fibo 61.8. For long-term target, prediction will go to Fibo 161.8, at 1.3340
Recommendation: Buy
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daily overview for Eur-Cad
r3: 1.3419
r2: 1.3322
r1: 1.3252
s1: 1.3085
s2: 1.2988
s3: 1.2918
the pair broke the channel to down
so our trade for the pair is sell
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Daily Forecast
Major Trend: Bullish
Time Frame: H1
Reason: Market still pointing upwards after a few days previously experienced bearish. Target safe in 1.3232
Recommendation: Buy
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Daily Forecast
Major Trend: Bullish
Time Frame: H1
Reason: Market still has a long-term goal of the Fibonacci 161.8 at 1.3350. However seelum it, may be sideways to 1.3175 area
Recommendation: Buy limit at 1.3175
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Till now the pair unable to breakout to the weekly resistance @1.4352.
so it is likly to falling down just to retest the trend line then Up movements will be expected after.
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I think that we should wait until the price break the resistance level at 1.3256 then we get in long position with take profit at 1.3384.
http://img.prntscr.com/img?url=http:...om/LQDOvmw.png
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we can see that the pair has failed in breaking 1.3240 and bounced from it , so that's mean the down trend is expected and the pair might head to 1.3140 and then 1.3100
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daily overview for Eur-Cad
r3: 1.3344
r2: 1.3295
r1: 1.3228
s1: 1.3112
s2: 1.3063
s3: 1.2996
the pair broke the channel to up
so our trade for the pair is buy
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Daily Forecast
Major Trend: Bearish
Time Frame: H1
Reason: Certainly the market will be down due to stochastic has berpantulan on rea overbought, and Bollinger is not widened. While there is strong support at 1.3201
Recommendation: Sell
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