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tigo2020
Oct 26, 2014 5:48 PM

EURCAD - Bullish on H4 to 1.4328 area Long

Euro Fx/Canadian DollarFXCM

Description

I can see the following:
1. Bullish Divergence: Price made a higher low while RSI made a lower low
2. Missed Daily Pivot @ 1.4328 - Price is going to attempt to reach this level
3. Price broke a 1st aggressive trendline and is gravitating to the 2nd trendline
4. A break above the second trendline validates the setup
5. Entry on the 15M time frame - expecting price to pull back a little bit before heading to the north
6. EUR/CAD is still bearish on the bigger time frame, this is a counter trend trade.
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