Lingrid | EURCAD Divergence At the Strong RESISTANCE zone

3 日前

The price perfectly fulfilled my last idea. It hit the target. EURCAD made upward extension, moving above the psychological level at 1.5000. On the daily timeframe, the price has reached a strong resistance zone, which may trigger a price rebound as sellers start to step in. On the 1H timeframe, there is a bearish divergence that reinforces this bearish outlook. I expect the market to move below the psychological level. Additionally, the market formed a ABCD move and after the completion usually the markets pull back. Therfore I expect a short term pullback. My goal is support zone around 1.49525

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

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