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EUR/CAD Potential Upward Movement

EUR/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.4641, 1.4698, 1.4739

Key Support Levels: 1.4569, 1.4537, 1.4458

Daily Chart:

The price on the higher time frame has been in an uptrend for some time after it broke a major level of 1.3764 and has sustained above that. Recently it did a pullback and found support at the 1.4340 level. The pair has bounced back after testing that level which shows 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 1.4458 and 1.4537 and has sustained above that. As of now the pair has broken and retested another level of 1.4569 before continuing the momentum.

Signal Idea:

Buy Limit Order @ 1.4593

TP @ 1.4634

Stop Loss @ 1.4552

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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