Learn:Forex Exclusive Guest Idea

EUR/CAD – April 6th, 2006

Our attention is looking away from the USD based pairs with the NFP report due out Friday.

Notice the EUR/CAD has been on a month long uptrend with one
correction. We feel it is due for another minor correction. Why? There
are a few things pointing in this direction. First, the candle pattern
(a shooting star). Second, notice the high of the wick yesterday
attempted to test the .618 fib. Fourth, the resistance in this area.
And finally look at the momentum indicator at the bottom…divergence is
forming.

Popularity: 2%