EURCAD: Curve Analysis (2H)

SLO @ 1.4404 ⏳
TP1 @ 1.4330
TP2 @ 1.4287
TP3 @ 1.4238

📉 Overall Trend: Bearish

Resistance: 1.4480
Support: 1.4175

✍️ Technical Indicators:

P2P INDi identifies curve from:
PH @ 1.44974
PL @ 1.41578

📉 TEMASHA identifies 1.4404 as a sniper entry for a short

📉 Moving Averages:
The 50/100/200-period all suggests that the overall trend is still bearish

📈 Oscillators
There is some bullish momentum in the shorter term

📉 RSI: The RSI is below 50, which is also bearish.

Trade attivo:

🙃 Based on today's CAD News, it appears that we're experiencing a "false-negative" — meaning the CAD is showing weakness for a limited time.

💪 I'm still anticipating that the CAD will gain its strength soon

📉 PA on EURCAD has already moved +18 pips to the downside, so it's highly likely that the CAD is beginning to regain its strength and this pair should be returning to the DT

Trade chiuso: obiettivo raggiunto:

Apparently, I chose the wrong curve because this short was SHORT-LIVED 😄

We only hit TP1 for a profit of +66 pips, then it PB and hit my +SL @ 1.4395