EUR/CAD Anticipate Further Downside
1. PIN BAR: Although not found at the top of the deliberation pattern, the length of the tail and the fact it failed to close
above the (resistance) trend line indicates a bearish bias.
2. DELIBERATION PATTERN: Typically a reliable pattern if the third bull candles wick is longer than the previous two, however confirmation is required as the wicks aren’t A typical – Bodies have progressively closed shorter in size relative to the previous candles close so the bearish bias is still in play.
NOTE: Awaiting close of this weeks candle (bear candle preferred) below 61.8 Fib level before an entry can be considered.
Anticipated Target: 1.35493
Source:: EUR/CAD Anticipate Further Downside