This is not a trade yet, but i am eyeing this resistance area for at least a potential downside pullback. The major swing high and the 1.271 extension align around the same levels, while Stochastic shows bearish divergence.
Komen
Prabhat_Singh
⋅
Its just awesome..
HamedAghajani
⋅
Hi; Might this also support this analysis that the level you are looking at is the confluence of two fib level on the way of EURCAD advances, in addition to the horizontal support- you identified.
Technician
⋅
@HamedAghajani, yes mate, it is. Hope we will get a clean confirmation to increase the chances. Yet some aggressive traders might trade it without any confirmation.But i am more conservative.