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EUR/CAD Potential Upward Movement

EUR/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.44400, 1.44890, 1.45000.

Key Support Levels: 1.43983, 1.43730, 1.43580.

1-Hr Chart:

The price on the higher time frame found support around the 1.44000 CAD mark after it succeeded to break the previous resistance level (now support). We noticed a small consolidation phase under the support level which indicates that a continuation of the main trend to the upside is about to happen.

EUR/CAD Medium-Term Trend: Bullish

15-Mins Chart:

On the lower time frame, the market succeeded to break the triangle to the upside where the bulls are overwhelming the sellers. A lower correction could be seen before a new impulsive wave toward the mentioned target profits below.

Signal Idea:

Buy Limit Order @ 1.43874

TP 1 @ 1.44400

TP 2 @ 1.44890

Stop Loss @ 1.43613

Trade Safely 🙂

In many cases we manually use market orders instead of pending orders to trade the trading ideas we send you. This is higher risk, and you can decide if it suits your trading style.

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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