EURCAD uses the RN trampoline!

Good evening ladies and gentlemen

Hope you are all having a wonderful day in the market. The weather once again was fantastic!!

So lets see how the EURCAD has behaved today. Yesterday we were seeing price correcting itself after 2 days of rapid climb. My question yesterday was how far could we see price drop before we could see another possible move? The RN being the first support and that is exactly what happened.

Below I have the 4 hour chart we were looking at yesterday. We can clearly see price dropping to the RN and has sinced bounced. The question remains as always what could happen next? Could we see a further possible reversal with the 123786 to go with the divergence on MACD as we are seeing now? Or could the well known saying "The trend is your friend" hold true and could we see another surge in the Bulls beating the Bears!!??



What are the other indicators saying? Any reversal candlestick forming to give any early indications? I will leave it to you to do your own analysis!!

I will leave you this thought as said by Bejamin Franklin "If you think education is expensive, try ignorance!"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari