EURCAD approaching resistance, potential drop!

١٢ سبتمبر ٢٠١٨

EURCAD is approaching our first resistance at 1.5193 (horizontal overlap resistance, 23.6% Fibonacci retracement, 61.8% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 1.5017 (horizontal overlap support, 161.8% Fibonacci extension, 61.8% Fibonacci retracement).
RSI (89) is also seeing a bearish exit and we might see a corresponding drop in price. Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
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