Evening Traders,
Today’s analysis – EURCAD- price trading below Daily S/R where a bearish retest is probable,
Points to consider,
- Price Action Impulsive
- Daily S/R Resistance
(.618 Fibonacci Confluence)
- 21 EMA Local Support
- RSI Bullish Control Zone
- Below Average Volume
EURCAD’s immediate price action is below Daily S/R that is in confluence with the .618 Fibonacci, this allows for a bearish bias.
The 21 EMA is current support, holding this level is crucial in the coming hours.
The RSI is currently trading in its respective bullish control zone, holding this level is indicative of strength in the market.
Volume profile as of now is trading below average, an influx is highly probable when testing key trade locations.
Overall, in my opinion, EURCAD is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“You have power over how you'll respond to uncertainty.”
― Yvan Byeajee
Today’s analysis – EURCAD- price trading below Daily S/R where a bearish retest is probable,
Points to consider,
- Price Action Impulsive
- Daily S/R Resistance
(.618 Fibonacci Confluence)
- 21 EMA Local Support
- RSI Bullish Control Zone
- Below Average Volume
EURCAD’s immediate price action is below Daily S/R that is in confluence with the .618 Fibonacci, this allows for a bearish bias.
The 21 EMA is current support, holding this level is crucial in the coming hours.
The RSI is currently trading in its respective bullish control zone, holding this level is indicative of strength in the market.
Volume profile as of now is trading below average, an influx is highly probable when testing key trade locations.
Overall, in my opinion, EURCAD is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“You have power over how you'll respond to uncertainty.”
― Yvan Byeajee
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Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。