EURCAD gradually step by step goes down

  • May 12 2021
  • by
  • Analyst AZA
EURCAD gradually step by step goes down

EURCAD gradually step by step goes down

EURCAD is gradually losing its previously won positions. The price is slowly moving to a strong support level, in case of a breakdown of which, it may fall another 70 points down. The MACD indicator is below the zero level and the price is below the 200 average, which gives every reason to believe that the downtrend will continue. The chart of technical analysis most suitable for this situation on the chart is similar to the triangle pattern.

Symbol: EURCAD
Order Type: Pending Order - Sell Stop
Entry Price: 1.4640
Take Profit: 1.4570
Pips Earning: 70

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The profit can be $849.52 if the trading volume of 100000 EUR (1 Lot).

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