EUR/CAD Long-Term Trend: Bullish
Key Resistance Levels: 1.5212, 1.5308, 1.5426
Key Support Levels: 1.5065, 1.5037, 1.4954
The price on the higher time frame was trending to the downside before managing to break the wedge pattern to the upside. This formation was broken and now the market is posting higher highs and lows inside a bullish channel signaling a potential reversal.
EUR/CAD Medium-Term Trend: Bullish
On the 4-hr time frame, the price is trading inside a bullish channel where we expect a potential correction toward the lower end of this formation that coincide with a 50% Fibonacci retracement and the trendline support. This could lead to a move upward again in the same direction of the main trend.
Buy Limit Order @ 1.5072
TP 1 @ 1.5206
TP 2 @ 1.5308
Stop Loss @ 1.5005
Trade Safely 🙂