Nice idea on EURCAD and there may be bullish bias as you have identified. For our set up, we have identified the key resistance and support levels. The support that we have identified is at 1.4937, which is just below your stop loss. It is a horizontal overlap support, with 100% Fibonacci extension and 50% Fibonacci retracement. Stochastic is approaching its support at 4.2% where a corresponding bounce could occur. If a corresponding bounce does occur, we may want to look at the 1.5111 resistance level. It is a horizontal swing high resistance with 61.8% Fibonacci extension and 61.8% Fibonacci retracement. Looking forward to seeing how things develop.
Please have a look at our idea and we would like to hear what you think.
Please have a look at our idea and we would like to hear what you think.