Breaking News

EUR/CAD Potential Upward Movement

EUR/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.5212, 1.5308, 1.5426

Key Support Levels: 1.5065, 1.5037, 1.4954

Daily Chart:

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

4-hour Chart:

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.

Signal Idea:

Buy Limit Order @ 1.5072

TP 1 @ 1.5206

TP 2 @ 1.5308

Stop Loss @ 1.5005

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. Hi Joe

    Hope you are well.

    Could you please elaborate on the next signals for which coin are you talking about?

    Can you describe the name, please?

    Eur/Cad I don’t know which coin is.

    Thank you

Leave a Reply to Patrick Ryan Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download Your Free Robot

Get your Robot Now!






Free Robot!