EURCAD squeeze

Good evening dynamic traders,

A very warm welcome to our newest blogger Sonia. Thank you for your kind words, I am sure you will achieve great trading success and inspire others to attain the same through your contribution.

Tonight's chart is the EURCAD. From the below chart it can be seen that the major trend on this chart is down. Price has been coming into a squeeze recently. The VI has been playing a major part in providing resistance particularly of late. This together with the reversal candlestick (doji) and the RN provide some good indication of a possible reversal/pullback. In addition there is some short term MACD divergence as well. A look at the lower timeframes will likely aid your entry.














Good Trading!
Bijal Shah