FullTimeTrader
Long

EURCAD-long on non confirm news about Greece

FX:EURCAD   Euro / Canadian Dollar
267 1 8
This trade is based on technical and fundamental non confirmed news:

"Reports suggesting that progress in negotiations is beeing made with creditors reducing demands on Greece a potentially allowing a short tem greek default"

We could have a pullback on all EUR pairs, but i prefer to trade the EURCAD            

- This pair is overextended and needs a pullback.
- The CAD is overbought. The oil             is bouncing from a resistance level .

We have an AB=CD pattern on W1 chart:

snapshot


On D1 chart we see the price rejecting the area and there is bullish divergence .
The S2 pivot support can protect the SL very well.

I expect a pullback at least to the middle of bollinger bands (20 SMA ).

Best regards

Nice one ... let see what will happen
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