EURCAD SHORT TO 1.38000
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EURCAD have been on the rise since August 2022, and now approaching the highs of 2022, what are my expectations?
We can see that above the 2022 highs, there is a weekly imbalance I labelled, so price might get to that highs before going bearish, remember that the first leg of the M formation, formed on December, so this will be our second leg. So we expect this move to flow to 1.38000
Why shorting?
There on the monthly timeframe, there is a high resistance zone we are currently on and we expect continuation of trend to the downside.
Please do share, and give a follow to support.
We can see that above the 2022 highs, there is a weekly imbalance I labelled, so price might get to that highs before going bearish, remember that the first leg of the M formation, formed on December, so this will be our second leg. So we expect this move to flow to 1.38000
Why shorting?
There on the monthly timeframe, there is a high resistance zone we are currently on and we expect continuation of trend to the downside.
Please do share, and give a follow to support.
Nota
Price just took out 2022 highs, now just the weekly imbalance to be filled then we sell today or tomorrow probablyNota
Expecting some bullish move at current price H4, so it goes bullish to clear the weekly imbalance before it falls.Nota
Price is creating a rising wedge on the fours timeframe, and I assume we all know the wedge as a continuation pattern, so this might just go on to fill the weekly imbalance, which is the black line.Nota
We still expect the weekly imbalance to get filled, let's look at the H4 timeframe and we can see that price just broke a resistance zone which price will use as a support zone for a bullish move to the weekly imbalance.Nota
Price is approaching the year highsNota
Let's watch price movement tomorrow for the NFP reports, if it gets to tally with our analysis.Nota
Price went to fill our weekly imbalance and we can spot a evening star formation, is the bears about to take over? We will get to confirm it's bears trend first before joining the train.Nota
The bears is confirmed, let's hit below.Nota
Seems like price is heading to give a second leg of an M formation after which price will start setting to the downside, we are still selling. Note that.Nota
The second leg is formed, the sell, might happen anytime now.Nota
Complete leveL ON H4, STILL HOLDING MY SELL BIASNota
We sellingNota
We moving
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