EURCAD analysis 22.09.2020

EURCAD
The price pivot zone of 1.5668 holds back buyers. A bearish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals an overbought condition. The ascending H8 level pattern is currently truncated. The wave C H8 (H2 level pattern) is also truncated, a reversal wave pattern will probably form there.

EURCAD rate online: monitor the price movement in real time.

Trading recommendations:

Sell when a descending wave pattern is formed, where the wave (A) breaks through the inclined channel of the ascending truncated H2 level pattern.

Stop Loss: beyond the price pivot zone of 1.5668 (or local maximum).

Target levels: 1.5530; 1.5450.