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EUR/CAD Flat Top Triangle Below the Trend Line

Nenad Kerkez
Updated

The EUR/CAD has formed a flat top triangle below the trend line that coincides with both Murrey Math and Camarilla bearish levels.

The price is below W H3 and trend line, while at the same time is rejecting the 5/8 Murrey Math Sell zone. A successful rejection should target 1.4892 followed by 1.4840-30 confluence point. The target confluence is W L3 and 3/8 zone. The MACD indicator also signals a possible downtrend cont based on MTF calculations.

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This article was originally posted on FX Empire

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