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MoolahMaker

EUR/CAD - Long Term Bullish Opportunity

Long
Euro / Canadian Dollar (OANDA:EURCAD)  
MoolahMaker Updated   
OANDA:EURCAD   Euro / Canadian Dollar
Trend Analysis Technical Indicators Beyond Technical Analysis EURCAD eurcadlong eurcadbuy eurcadforcast eurcadanalysis eurcadsetup eurcadtrade eurcad! eurcad4h
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trendanalysis indicator beyondta eurcad eurcadlong eurcadbuy eurcadforcast eurcadanalysis eurcadsetup eurcadtrade eurcad! eurcad4h
EUR/CAD has been in consolidation on the 8H chart for now 3 weeks.

It's failing to make a move down. Bulls are getting in and preparing for the bullish move thus preventing the pair to make a move down to a lower low.

Leave 80-100 pips SL and double the TP.

You will have to hold this position for arround a week or more.

Trade safe.

Comment:
Early entry but SL is down enough. If the 1.50 support is unable to hold, then this would be a turning point of the long term move. It'll just fall down.

I am keeping my position open, expecting a bounce back up. If it's not able to, then I will look for a shorter further below. No confirmation yet that it's going to fall.
Comment:
If the 1.50 fails, then aim for 200 EMA on weekly.
Comment:
How this can turn out if the 1.50 holds strong.
snapshot
Comment:
Prices moved back up to last 1H support. It might consolidate there for a while until it can break it back and find support on top of it anew.

I closed my trade for the weekend. Next weeks, depending on how it goes, I will either long term buy or long term short. One thing is certain, a big move is going to happen within next 2 weeks.
Comment:
Resistance to support pattern:
GBPCAD 1H: prntscr.com/nkqnxk
USDGD 4H: prntscr.com/nkqob4
EURCAD 4H: prntscr.com/nkqor7

For EURCAD to happen, the support on 1.50 must hold strong. Prices have to make a push up and low test to confirm it can't go down. Then we have our confirmation for the push up.
Comment:
All is going as expected. Waiting for the 4H low test to catch the move.
Comment:
Low test is going on, let's wait for the confirmation that the support is strong and go for the buy again!
Comment:
EUR/CAD making one last low test before the move up. Let's see how it holds.
Comment:
Trade is running strong...
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