SHORT EUR/CAD from 1.5170
EUR/CAD has pushed higher having bounced off the 61.8 Fibonacci high of 1/3/2018 and low of 21/8/2012.
H4 time frame.
The last H4 candle was a doji indecision and the current H4 candle is a bearish pinbar though this has yet to close.
RSI on H4 is now reading 70 declining from 81.
The red SELL line of the Andean Oscillator is now reading .0007 and was 0.0000 whilst the green BUY line is beginning to decline.
The MACD Fast MA is beginning to flatten off and I expect this to head south.
H1 time frame.
H1 sees The Andean SELL line rising strongly and RSI declining and about to cross the blue signal line.
MACD sees the Fast MA crossed south over the slow MA.
RSI is readin 56.3 - was over 85.
All the signs are that this pair is headed lower.
I have a SHORT trade from 1.5170 with a STOP above the high.
Target is open but 1.4673 is a potential long term target.
H4 time frame.
The last H4 candle was a doji indecision and the current H4 candle is a bearish pinbar though this has yet to close.
RSI on H4 is now reading 70 declining from 81.
The red SELL line of the Andean Oscillator is now reading .0007 and was 0.0000 whilst the green BUY line is beginning to decline.
The MACD Fast MA is beginning to flatten off and I expect this to head south.
H1 time frame.
H1 sees The Andean SELL line rising strongly and RSI declining and about to cross the blue signal line.
MACD sees the Fast MA crossed south over the slow MA.
RSI is readin 56.3 - was over 85.
All the signs are that this pair is headed lower.
I have a SHORT trade from 1.5170 with a STOP above the high.
Target is open but 1.4673 is a potential long term target.
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