EURCAD Bearish Market Insight
Technical Analysis
EURCAD
Upon examining the candlestick patterns, we observe that the bearish candles are notably stronger and longer than the bullish ones. This signifies a dominant bearish presence in the market.
Additionally, the price has touched the trendline for the third time, confirming a sustained downward movement.
Key zones are being broken, and the subsequent retest candles appear weak. To capitalize on this trend, it is advisable to wait for the price to retrace to 1.47735 before adding more sell positions.
Trade Targets
First Target: 1.46298
Second Target: 1.45634
Risk Management
It is recommended to allocate no more than 1% of your portfolio to this trade. Ensure strict adherence to a robust risk management strategy.
Disclaimer
This analysis is solely for educational purposes and should not be considered financial advice. Always conduct your own research and consult with a professional before making trading decisions.
#XAUUSD #GBPUSD #EURUSD #BTCUSD
EURCAD Upon examining the candlestick patterns, we observe that the bearish candles are notably stronger and longer than the bullish ones. This signifies a dominant bearish presence in the market.
Additionally, the price has touched the trendline for the third time, confirming a sustained downward movement.
Key zones are being broken, and the subsequent retest candles appear weak. To capitalize on this trend, it is advisable to wait for the price to retrace to 1.47735 before adding more sell positions.
Trade Targets
First Target: 1.46298
Second Target: 1.45634
Risk Management
It is recommended to allocate no more than 1% of your portfolio to this trade. Ensure strict adherence to a robust risk management strategy.
Disclaimer
This analysis is solely for educational purposes and should not be considered financial advice. Always conduct your own research and consult with a professional before making trading decisions.
#XAUUSD #GBPUSD #EURUSD #BTCUSD
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