EURCAD Short Term Sell Idea - Multi-timeframe Analysis
D1 - Potential double wave down.
While measuring the first wave we could see that the price still has room lower towards the 61.8% fibonacci expansion level.
H4 - We have a magnet zone formed by the 161.8% fibonacci expansion level of the H4 first wave and the 61.8% fibonacci expansion level of the daily first wave.
Price still has room lower towards this magnet zone.
Until the downtrend line holds I expect the price to continue lower further after pullbacks.
While measuring the first wave we could see that the price still has room lower towards the 61.8% fibonacci expansion level.
H4 - We have a magnet zone formed by the 161.8% fibonacci expansion level of the H4 first wave and the 61.8% fibonacci expansion level of the daily first wave.
Price still has room lower towards this magnet zone.
Until the downtrend line holds I expect the price to continue lower further after pullbacks.