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EURCAD TECHNICAL ANALYSIS 12/12/18

by | Dec 12, 2018 | Technical and Fundamental | 0 comments

TIMEFRAME: H4

BIAS: BEARISH

The EURCAD has been on an 8 weeks old falling wedge spree. A minor rising wedge has been formed within the bigger picture. As market has pushed down from top of the trend line, A bearish movement is highly likely if the market sustains that move which it has. The EURCAD is therefore likely to push down till the buttom of the wedge or trend line at 1.5000. Currently price is hovering around 1.51522, a break of a support within the wedge. it is therefore more likely that it will further push down to the buttom of the trend line of this bearish chart pattern at 1.5000 which is a Key level by all standards.

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