EURCAD - A path of resistance ahead?
The EURCAD since the French pre-general elections has made it rather bullish, however the gap, missed monthly and weekly pivot lie below and with oversold indications on the RSI indicating a retracement is due.
We are at the point where we are hitting the 50% a key retracement area in any leg of a financial instrument. There are multiple points of resistance and support at this 50% are so my intentions are to short this pair and aim for the missed monthly pivot below. A further continuation may proceed based on the up-coming elections in France?
Happy trading!
We are at the point where we are hitting the 50% a key retracement area in any leg of a financial instrument. There are multiple points of resistance and support at this 50% are so my intentions are to short this pair and aim for the missed monthly pivot below. A further continuation may proceed based on the up-coming elections in France?
Happy trading!
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