Breaking News

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.

Leave a Reply

Your email address will not be published.

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

Download My Free Robot

Get your Robot Now!






Free Robot!