ricky1270
Long

EURCAD Long Daily Trade Idea Buy Limit

FX:EURCAD   Euro / Canadian Dollar
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!

Trade closed: stop reached: Stop loss was hit, we will try this trade again later on.
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