Forex Signals: Eur-Cad, bearish break-out! Eur-Cad, daily Price Action chart. Eur-Cad: the phase of depreciation of the euro is very clear and it could increase further if, as many believe, Mr.Mario Draghi will finally adopt the unconventional measures to support price stability, as he already said many times. This monetary policy would probably lead to a continuation of the bearish move for many currency pairs and between them we can highlight Eur-Cad. We had a very nice short movement that characterized this pair from mid-March, (after the maximum of nearly five years in 1,5580), with the same pair breaking down the EMA21 and moving below it both in the daily as in the weekly time frame. The downward trend is very clear, although in the short term Eur-Cad is going through a phase of laterality that led to three times the support level 1,4430. Yesterday Eur-Cad drew a clear short trading signal in this area and, at the present time, its breaking this level with the possibility to continue the downward trend to the next major area of weekly support at 1,41. Maurizio Orsini mauriforex youtube/user/adduho1
Posted on: Wed, 27 Aug 2014 08:13:57 +0000
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