The daily chart of EURCAD appears to have bottomed, but there is no confirmation yet, as the impulse is still red. I believe that if it's going to bottom, a strong rally should be expected. I know everybody sells the euro, but on many pairs the euro looks bullish. In this case, combined with Canadian dollar weakness, there might be a nice rally coming. I already established a small position and I'm going to increase it at the first confirmation signal.
Comments
vlad.adrian
⋅
Exited on the breakdown
Kumowizard
⋅
As USDCAD enterred bullish trending again, it all depends on EUR recovery. May be a good risk-reward to buy, even if it goes only upto 1,4680-1,4700 and then stucks in a range.
vlad.adrian
⋅
Yes I'm planning to play hourly charts to 1.47 if I see daily confirmation