EURCAD - Daily Long - Coincides with weekly outlook

FX:EURCAD   Euro / Canadian Dollar
160 0 3
Here is the breakdown of the daily time frame for EURCAD             which coincides well with my weekly outlook ( This pair has been making lower highs, and lower lows since April 2014. Recently, the pair has broken out of its channel, made a new higher high (taking out the most recent lower high), which signals trend reversal. In addition, it has been making lower lows. Having said this, it is safe to start looking on where to enter LONG.

There is a AB=CD setup on the daily, price has moved down into .618 of the Daily A/B which lines up with the upper channel trend line (acts as support now). There is a moving average crossover as well. I will be looking to enter long once I see a Counter Trend Line (CTL) break on 4HR. Stops will be placed slightly below the 1.40 handle, and targets will be 1.27 and 1.618 of Daily A/B - giving an outstanding risk reward of 1:4.

Happy pipping, keep in mind its holiday week so markets will be slow.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out