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EUR/CAD Potential Upward Movement

EUR/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.4012, 1.4069, 1.4116

Key Support Levels: 1.3906, 1.3873, 1.3793

Daily Chart:

The price on the higher time frame has recently reversed the direction after it found support at the 1.2987 level. The pair broke a resistance level of 1.3566 after consolidating for some time. It has now broken another minor level which shows a bullish bias.

EUR/CAD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 1.3738 and 1.3873 and sustained above that. As of now the pair has broken and retested a minor level of 1.3906 before continuing the momentum.

Signal Idea:

Buy Limit Order @ 1.3944

TP 1 @ 1.3995

TP 2 @ 1.4072

Stop Loss @ 1.3893

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

One comment

  1. Perfect analysis… 👍👍

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