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EUR/CAD Potential Upward Movement

EUR/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.47652, 1.47908, 1.48325

Key Support Levels: 1.47245, 1.46986, 1.46505

4-Hour Chart:

The price on the higher time frame has been in an uptrend recently after it tested a support level of 1.44853 and bounced back. The pair has broken a few resistance levels which suggests further trend continuation.  

EUR/CAD Medium-Term Trend: Bullish

30-Minute Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It broke a consolidation zone of 1.46505 and 1.46986 and has sustained above that. As of now the pair has broken and retested a minor level of 1.47245 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 1.47398

TP @ 1.47611

Stop Loss @ 1.47185

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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