Description: As shown above we have FX:EURCAD. I was going through pairs and noticed this TL i drew a while back has been broken majorly, Also as we can see price failed to break above monthly resistance 1.50250 3 times since the later part of February. Resulting in price decline consequently breaking out of the Trend.We could see a clean break of Monthly Support during the early part of next week if there is no retracement before or around Monthly Supp/BLUE Box Key Level.
I would then wait for a Possible Retracement back to Monthly Resitance/Supp 1.41900 to short this pair.
However if we get a retracement i'll expect price will break monthly Supp Bounce around the Key Level then i would look to enter at around 0.382 - 0.618 preferably a rejection of the 200 EMA (PINK) with stops at Daily Resistance 1.43800.
Indicators: [50,200 EMA ,RSI] On the Daily we are trading below both EMA'S which also seem to be crossing to the Downside,Monthly below 200 and just crossing below the 50. Daily we have a Bearish Cross very likely to happen.
Duration: Long Term
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aiadeadman
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looking good
Fouad.H.
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This one's made me scratch my head. I tend to favour a deep decline towards 1.30