EURCAD Buy Signal

Price bounced from the kumo and RSI confirms price reversal. DMI shows trend market conditions and allows open long trades. ADX line falls and it can be a signal that a new up movement won't be so strong as before. That's why for this long trade it will be better to use a trailing stop for exit. We can place buy-stop orders for entry above 1.49000 level with stop orders below 1.47000 level. Profit target should be at 1.50000 level which can stop and reverse the up trend. But if the market breaks this resistance level and ADX supports the up movement, we'll have a new profit target near 1.52000 level. Long trades can be opened based on the daily and 4H charts.

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