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EUR/CAD Potential Upward Movement

EUR/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.4522, 1.4609, 1.4691

Key Support Levels: 1.4372, 1.4274, 1.4146

Daily Chart:

The price on the higher time frame has recently been in a bullish trend and has shown good momentum. The pair broke the upper range of a consolidation zone at the 1.3764 level. It is now continuing the move after testing a level of 1.4340 which shows a bullish sign. 

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 consolidated for some time between a range of 1.4146 and 1.4274 and has broken the upper range. As of now the pair has broken and retested another level of 1.4372 before continuing the momentum. 

Signal Idea:

Buy Stop Order @ 1.4438

TP 1 @ 1.4511

TP 2 @ 1.4621

Stop Loss @ 1.4365

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.

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