In my previous analysis on EURCAD, I said we need to wait for the price break above the counter trend line, then we only can consider for the long on this pair, and now the price break and close above the counter trend line, we can find the long opportunity at the moment.
From the technical view:
1. As mentioned from previous analysis, monthly and weekly showing the bullish scenario, which is an impulse to the upside followed by a correction, now we can expect a new impulse to the upside.
2. From the daily perspective, price break and close above the counter trend line, we can find a long opportunity in the lower timeframe at the moment. The target can identify through the FIB Retracement from the low to high on the entire retracement, as shown on the chart.
From the fundamental view:
1. Big players are bullish bias on EUR in the LT and bearish bias on CAD in the LT.
2. In the new report, we can see that they are already taking profit on EUR which is -11k of the long has been closed, and another 3k of the short at the moment. From the CAD, more short positions added which is 2.6k of the short position and the net positions become more negative, from the previous -16k now become -27k, we still can expect CAD continue to weaken even though they already shorting EUR at the moment.
3. Strong EUR and weak CAD, EURCAD should move to the upside.
How to approach EURCAD?
1. Switch to the lower timeframe and looking for the long opportunity at the moment, if your rules of the strategy are fulfilled.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on EURCAD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.
From the technical view:
1. As mentioned from previous analysis, monthly and weekly showing the bullish scenario, which is an impulse to the upside followed by a correction, now we can expect a new impulse to the upside.
2. From the daily perspective, price break and close above the counter trend line, we can find a long opportunity in the lower timeframe at the moment. The target can identify through the FIB Retracement from the low to high on the entire retracement, as shown on the chart.
From the fundamental view:
1. Big players are bullish bias on EUR in the LT and bearish bias on CAD in the LT.
2. In the new report, we can see that they are already taking profit on EUR which is -11k of the long has been closed, and another 3k of the short at the moment. From the CAD, more short positions added which is 2.6k of the short position and the net positions become more negative, from the previous -16k now become -27k, we still can expect CAD continue to weaken even though they already shorting EUR at the moment.
3. Strong EUR and weak CAD, EURCAD should move to the upside.
How to approach EURCAD?
1. Switch to the lower timeframe and looking for the long opportunity at the moment, if your rules of the strategy are fulfilled.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on EURCAD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.