EUR/CAD Long-Term Trend: Bullish
Key Resistance Levels: 1.43254, 1.43574, 1.43802.
Key Support Levels: 1.42854, 1.42574, 1.42200.
1-Hr Time Frame:
The price on the higher time frame failed to break the strong support level around the 1.42847 CAD mark and then rebounded and moved higher leaving a fake breakout to the downside. we expect further movement to the upside especially after breaking the bearish trendline.
EUR/CAD Medium-Term Trend: Bullish
5-Mins Time Frame:
On the lower time frame, we can see that the market started a new trend where higher highs and lows has been posted after breaking the trendline. As well we can see that the buyers are back which is represented by big bodied bullish candlesticks.
Buy Market Order @ 1.42835
TP 1 @ 1.43248
TP 2 @ 1.43574
Stop Loss @ 1.42632
Trade Safely 🙂