FX:EURCAD   Euro / Canadian Dollar
40 3
To me it doesn't doesn't look all that convincing but I still think this can happen.Currently as it is the pair needs to clear resistances @ 1.5355 - 1.5578 area before it can head higher to form a new top with in this bullish channel .After breaking out of the T.L resistance from August 24th 2015.The pair rose higher considerably.So far retraced only once and just a slight more than 23.6% and made its way back up, another thing to keep your eyes on is the near term T.L support here from December 2nd of 2015.Now in my opinion if it holds up for the pair to clear and close above the resistance I mentioned above.Then there are good chances we may see a 61.8% (1.5762) extension of the move which started after the breakout from December 1st 2015 and after a bit of retracement or consolidation it may go on to form a new top.
pls update eurcad idea
+1 Reply
Trader_97 tomlai5
sure ... I will post an update soon :)
Trader_97 tomlai5

This is the updated trade idea @tomlai5
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