EURCAD Technical Overview and Trade Opportunities
EURCAD ended the week 1.45610 below SMA200 and EMA50 in the H4 chart.
I have posted a bearish ABCD pattern last week targeting 1.44400. This pattern is still valid and trade generated 150 pips so far.
What is next?
As I updated and posted in the Live Interactive Charts, we see an emerging Bullish Shark pattern medium term. On the smaller charts, a bullish crab pattern confirms a corrective minor wave at 1.45200 – 1.45000.
This pair is our sell the throwbacks pair.
If you do not have any running positions in EURCAD pair, you can sell at the market price or wait for a small correction towards 1.45900 to short.
Intraday targets of the pair are 1.45400, 1.45260 and 1.45000.
Bullish Crab pattern can be used as a buying opportunity by the scalpers.
Our near term target is 1.44400. We can use the shark pattern as a buying opportunity.
Important Note: New patterns may appear and some emerging patterns may become invalidated. We publish our live charts D1 H4 H1 and M30 with updates and entry alerts. – Members Only –
Link to EURCAD Live Interactive Charts: EURCAD Interactive
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
EURCAD Technical Overview: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility