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EUR/CAD Potential Upward Movement

EUR/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.35270, 1.35666, 1.36943.

Key Support Levels: 1.32825, 1.31284, 1.30029.

Daily Time Frame:

The price succeeded to break the accumulation phase to the upside which led to a reversal. The market is posting higher highs and lows another proof that the price is in an uptrend. The EUR/CAD already posted a correction and now is about to move higher with the help of a bullish impulsive wave.

EUR/CAD Medium-Term Trend: Bullish

4-Hr Time Frame:

On the lower time frame, the market found buyers near the 61.80 % Fibonacci retracement level and left a fake breakout below the strong support 1.33860. This shows that the bulls took control of the market and is about to push higher toward the target profits.

Buy Limit Order @ 1.33904

Target Profit 1 @ 1.34287

Target Profit 2 @ 1.35016

Stop Loss @ 1.33521

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. Target was hit by the time the signal arrived.

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