CPM

EURCAD – Bearish Pinbar printed to Breakdown Support, Downtrend may continue to next support 1.44362


EURCAD Trade setup for 05 September 2019
Trade market is always risk-able. This market commentary is my own trading view. Before applying my trading strategy please see the Risk Disclosure. Do your own research and be aware of the risks and rewards.

All charts are illustrated in this commentary are Daily Chart Time Frame except I mention other 

Currency: EURCAD
Chart (Click to Download Newyork Close Chart): EURCAD Daily Candlestick Chart
Trend (Click to Read what is Trend): Downtrend
Support Point (Click to Read what is Support): 1.45744, 1.44362
Resistance Point (Click to Read what is Resistance): 1.50050, 1.56433 & 1.61542
Signal (Click to Read My favorite Forex Signals): Bearish Pinbar Sell signal

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My Opinion:

EURCAD started down-trending from the resistance point 1.61542 and still it’s downtrend will continue. A long-tail Bearish pin bar was printed 0n 04.09.19 which is the confirmation of the market to continue its Downtrend. It can break the support point 1.45744 and now this support probably will act as a new resistance for this currency. We can expect this market downtrend will continue to next support 1.44361 to more down. We will always prefer to take a sell position as long as the market will able to hold its resistance 1.50050. I will notify you when a new signal will print at this point. Submit your Email to get notification and stay with us                                           

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