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EUR/CAD Potential Upward Movement

EUR/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.4759, 1.4815, 1.4850

Key Support Levels: 1.4664, 1.4645, 1.4583

Daily Chart:

The price on the higher time frame is bouncing between to strong key levels which are the daily support and resistance with the following prices respectively (1.4664 – 1.4759 USD). The market posted an engulfing bullish pattern near the strong support which could lead to a move upward.

EUR/CAD Medium-Term Trend: Bullish

4-Hour Chart:

On the lower time frame the price succeeded to post a double bottom which shows that a potential reversal might occurs. The price broke the neckline of this pattern to the upside. A lower correction might be seen to the highlighted zone before a rally to the target profit.

Signal Idea:

Buy Limit Order @ 110.64

TP 1 @ 110.87

TP 2 @ 110.96                

Stop Loss @ 110.56

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.

3 comments

  1. Can you entry points given for the entry/exit point signals for the EUR/CAD looks like you typed in the wrong pair for this trading signal idea

  2. It’s wrong number 🙂

  3. Hi, could you please double check this signal? The numbers dont look correct, it looks like it’s from another pair.

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