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EURCAD: RAISING WEDGE REVERSAL.

 

 

 

The price range taking a U-turn from the resistance-line and yet to break out the Raising Wedge, the EURCAD can’t be considered weak unless declining beneath the 1.5165 support-line.

As a result, chances of the pair’s pullback to 1.5290 and consequent advances to 1.5320-25 horizontal-line can’t be denied.

Should the pair crosses the 1.5325 barriers, the 1.5370, the 1.5415 and the 1.5440 can entertain buyers prior to pleasing them with 1.5465 marks. On the downside, the 1.5185 and the 1.5165 may limit the pair’s nearby downside, break of which can confirm the bearish technical pattern with theoretical targets of 1.5050 and the 1.5010-5000. Moreover, the pair’s weakness below 1.5000 might not hesitate to test the 1.4885, the 1.4830 and the 1.4800 rest-points.

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05 Sep 2018 5:42 pm Posted by tamilforex

 
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