EURCAD is now bullish.. 21 Nov 2022
Take a look at the 50 EMA and 200 SMA in relation to recent price action. The 50 EMA is now providing dynamic support and price is above the 200 SMA. See also price action and you note that the downtrend ended some time in July, after a short consolidation has been bullish for during the recent past.
Now that the uptrend has been established, I am looking for the next pullback to join it. A pullback to the 1.3660 region would be perfect but I will not wait for such perfection. Even if the pullback is shallow, I will be happy to join the uptrend.
Always use sound money and risk management and stay patient in all your trades.
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Now that the uptrend has been established, I am looking for the next pullback to join it. A pullback to the 1.3660 region would be perfect but I will not wait for such perfection. Even if the pullback is shallow, I will be happy to join the uptrend.
Always use sound money and risk management and stay patient in all your trades.
If you like my analysis, please give it a “thumbs up” and follow me to get even more awesome content.
What do you think about this trade idea? Please comment and share your thoughts!!
Trade closed: target reached:
Awesome trade!!