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EUR/CAD Potential Upward Movement

EUR/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.44183, 1.44667, 1.45169.

Key Support Levels: 1.43413, 1.42449, 1.41713.

Daily Time Frame:

The price on the higher time frame failed to continue its move to the downside below the 1.43000 CAD mark where it posted a big bodied bullish bar and closed above it. This could lead to a move higher and most probably to a reversal and change in direction.

EUR/CAD Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the price is traded inside a bullish flag formation indicating that a continuation to the upside is possible after the breakout. A lower correction is expected before the mention new bullish impulsive wave toward the target profits.

Signal Idea:

Buy Limit Order @ 1.43469

TP 1 @ 1.44120

TP 2 @ 1.44646

Stop Loss @ 1.43205

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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