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EURCAD Shorts Favored Below 1.4750
The EURCAD broke below a key level on July 3rd. I wrote about 1.4750 on June 19th. We were interested in this level following the break below wedge support near 1.4970. The pair ended up closing back above that wedge bottom, but later confirmed our suspicion that EURCAD wanted to head lower. Yesterday’s session tested the 1.4750 area as new resistance. Notice the long upper wick from yesterday’s candle. That’s an indication that sellers are camped out near that 1.4750 region. As long as 1.4750 holds as resistance on a daily closing basis, I favor shorting EURCAD on pops into that area. I’ll be forced to ... (full story)
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- Jul 10, 2019 10:01pm Jul 10, 2019 10:01pm
- DonFF
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- Blessed-man
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- Jul 11, 2019 3:46am Jul 11, 2019 3:46am
- DonFF
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