Breaking News

EUR/CAD Potential Upward Movement

EUR/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.4893, 1.5094, 1.5130      

Key Support Levels: 1.4767, 1.4668, 1.4606

Daily Chart:

The price on the higher time frame failed to break a key support around the 1.4767 USD mark where it reversed and started to be traded higher. The market posted a double bottom and two bullish trending bars in the same direction of the main trend.

EUR/CAD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price is posting higher highs and lows which signals that we are in a clear uptrend. The price recently posted a correction count to the previous swing high around the 1.4856 USD level. This could lead to a reversal and a move upward again toward the mentioned target profit.

Signal Idea:

Buy Limit Order @ 1.48590

TP 1 @ 1.48918

TP 2 @ 1.50940

Stop Loss @ 1.48481

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Your email address will not be published.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!