EURCAD feeling cosy!

Good evening ladies and gentlemen

I hope you are all in profit on this beautiful summer's day! Long may it continue!

So to the second day of the EURCAD for this week and as you may already know, if like me you have had an eye on it all day, there is not much to report on really. Since the break of the S and R Zone, price has found comfort at the RN of sorts directly above it. It has tested the S Line once and we may see it happen again as a catalyst for a further move up. On the contrary, we have had a divergence on MACD for quite some time and with the foramtion of a double top we could see the Bears outdo the Bulls and as a result see a drop in price!

Below is the 1 hour chart which shows the lack in movement in today's action but also what is mentioned above! RSI is closing in on the midline so could that be of any significance?

Could we see any interesting moves by tomorrow morning? We will just have to wait and see!

I will leave you with this thought "Do you ever find yourself planning trades you never execute, and executing trades you never planned?"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari