According to last week’s EUR COT Report we can see that the long contract sizes are not only dominating the long/mid-term trends, but also there was a huge increase from last week as well.
Last week we did amazing on the EURCAD pair.
Price finally went over the daily and 1H critical areas near 1.55780 and now we have a great trading opportunity:
1. Price receiving support from the daily critical at 1.55400 and going towards the next one near 1.56600. After that a small correction towards 1.56000 may happen, before we see a move to the monthly critical at 1.58400.
After the monthly critical has been reached a strong correction will take place. A move to the 1.55500 mark will be a possibility since it aligns perfectly with the 0.618 Fibonacci level.
In order to enter a sell trade after the monthly critical near 1.58400 is reached, we must wait for a strong rejection signal first.
Happy Trading!
Last week we did amazing on the EURCAD pair.
Price finally went over the daily and 1H critical areas near 1.55780 and now we have a great trading opportunity:
1. Price receiving support from the daily critical at 1.55400 and going towards the next one near 1.56600. After that a small correction towards 1.56000 may happen, before we see a move to the monthly critical at 1.58400.
After the monthly critical has been reached a strong correction will take place. A move to the 1.55500 mark will be a possibility since it aligns perfectly with the 0.618 Fibonacci level.
In order to enter a sell trade after the monthly critical near 1.58400 is reached, we must wait for a strong rejection signal first.
Happy Trading!