EURCAD Forecast and Trade setup for the week 26th Feb, 2014

EURCAD Forecast and Trade setup for the week 26th Feb, 2014

Daily Chart

• MACD negative divergence is spotted
• Monthly pivot is holding very well based on daily candles reaction there

Hourly Chart

Overall trend is bullish, looking for Scalp trades here,
I have one at the 50% retrace and 78.6% retrace

50% Retrace level - 

• Its a overlapping of a 23.6% from low of Jan and this months high,
• Its also a 127.20 fib ext of the highs from this last week
• Look left, its previous s and r

78.6% Retrace level - 

• Cypher Pattern (ugly one though)
• Overlapping 38.2% from low of Jan and this month's High
• Look Left, Previous Resis and Support (however you may argue there is a stronger one at the 100% obviously)

Outlook Trade opportunity

See Hourly Chart

Risk Level MEdium

Tips -

Always take note of any economical news event on our provided calender below