Euro under pressure ahead of key ECB Monetary Policy decision – EUR/USD Market Outlook – 29/10/2020
With COVID-19 cases rising and several European countries applying new [...]
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EUR/CAD Bearish ABCD and Trendline Confluence
The EUR/CAD is currently in a zig-zag downtrend. We can see a distinct trend line that makes a confluence with H3, ATR pivot and ABCD bearish pattern. ABCD is valid and confirmation of short continuation comes with 1.4025 break. Additionally, the POC zone is 1.4060-80 so watch for possible rejections off the zone too. Targets are 1.4000 and 1.3945. Only the break of 1.3940 will extend the target towards 1.3900 zone. Invalidation of this bearish scenario comes if 1.4110 is reached.
Tuesday, 31 Jan, 2017 / 3:18
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