EURCAD Buy Trade Idea Daily
The sell-off the past 2 days has now fueled price to return to February 22 trendline support.
The 1.506 - 1.509 level proved to be a strong area of demand seen from price recent visit there.
I expect bullish momentum to continue for this pair having respected the trendline 3 times before.
From that demand, we should expect price to break through demand having since weakness in the pushes away from the zone recently.
Risk:Reward Ratio of 6.4.
Please apply proper risk management if you seek to take the trade. This should be a nice swing based on all that we see happening.
BUY LIMIT set @ 1.509
Stop loss: 30 pips
Take profit: 200 pips
Until we meet again!
The sell-off the past 2 days has now fueled price to return to February 22 trendline support.
The 1.506 - 1.509 level proved to be a strong area of demand seen from price recent visit there.
I expect bullish momentum to continue for this pair having respected the trendline 3 times before.
From that demand, we should expect price to break through demand having since weakness in the pushes away from the zone recently.
Risk:Reward Ratio of 6.4.
Please apply proper risk management if you seek to take the trade. This should be a nice swing based on all that we see happening.
BUY LIMIT set @ 1.509
Stop loss: 30 pips
Take profit: 200 pips
Until we meet again!
Trade closed: stop reached:
Stop loss was hit, we will try this trade again later on.