VladimirRibakov

EURCAD Short Term Sell Idea - Multi-timeframe Analysis

Short
FX:EURCAD   Euro / Dollaro canadese
D1 - Potential double wave down.

While measuring the first wave we could see that the price still has room lower towards the 61.8% fibonacci expansion level.

H4 - We have a magnet zone formed by the 161.8% fibonacci expansion level of the H4 first wave and the 61.8% fibonacci expansion level of the daily first wave.

Price still has room lower towards this magnet zone.

Until the downtrend line holds I expect the price to continue lower further after pullbacks.

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