EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/CAD reversed from resistance zone
2021-11-11 • Updated
- EUR/CAD reversed from resistance zone
- Next sell targets - 1.4240 and 1.4160
EUR/CAD recently reversed down from the resistance zone lying between the resistance level 1.4600 (which was set as the buy target in our earlier forecast for this currency pair), upper daily Bollinger Band and the 51% Fibonacci correction of the sharp downward impulse wave (1) from last November. The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Bearish Engulfing.
EUR/CAD is expected to fall to the next sell target at the support level 1.4240 (low of the pervious B-wave) – the breakout of which can lead to further losses toward 1.4160.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
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