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EUR/CAD Potential Upward Movement

EUR/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.45138, 1.45610, 1.46160.

Key Support Levels: 1.44621, 1.44110, 1.43925.

Daily Time Frame:

The price on the higher time frame succeeded to break the bearish trendline to the upside after posting a double bottom. A series of higher highs and lows has been posting showing that we are in a clear uptrend. As well the market just posted a correction where an engulfing bullish pattern has been left at the bottom of the correction.

EUR/CAD Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the buyers to break the bearish trend line to the upside after a Wyckoff accumulation phase which led to a move high. A lower correction could be seen to the support level to bring back liquidity before a new bullish impulsive wave toward the target profits.

Buy Limit Order @ 1.44668

TP 1 @ 1.45138

TP 2 @ 1.45610

Stop Loss @ 1.44198

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

2 comments

  1. which one close??? AUDCAD or EURCAD?

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