EUR/CAD 21.07.2016
4H chart
Downward trend, correction at Fibo 23.6 and horizontal resistance
Price action signal : Pin bar at levels of horizontal resistance
Technical indicators:
DeM(14) - Turned from overbought market - negative signal
Price below 200 MA - negative signal
Sentiment - Negative for EUR after the IMF changed it's forecasts for the economical growth after Brexit
SL: 1.4430
Alternative scenario:
If the price goes above the horizontal resistance and 200 MA, the negative scenario will change
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