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EUR/CAD Potential Upward Movement

EUR/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.5190, 1.5201, 1.5270

Key Support Levels: 1.5075, 1.4987, 1.4919

Daily Chart:

The price on the higher time frame is in an uptrend where it posted higher highs and lows. lately, it reacted on the 1.4987 USD support level, and left a correction count before starting to trend upward again.

EUR/CAD Medium-Term Trend: Bullish

1-hour Chart:

On the 1-hr time frame, the pair is trading inside a wedge formation where the price managed to break the strong resistance to the upside. A break of the wedge is expected to the upside to be able to continue trending in the same direction of the main trend.

Signal Idea:

Buy Market Order @ 1.5079

TP 1 @ 1.5166

TP 2 @ 1.5190

Stop Loss @ 1.5051

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.

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