With EURCAD testing the monthly support for the fourth time now and failing to move lower due to serious bullish momentum coming in as a result of the retest, it is clear that there is some strong buying power supporting the 1.46000 level. This buying power pushed price action right up to the resistance level of around 1.47200-1.47300 which is also the 200 EMA...
FX:EURCAD has been consumed by bearish momentum today and there is still potential to hop on that momentum to pick up some nice profits with minimal risk. Please follow the rules below for how to go about this trade and also please note the short summary below the trading rules that summarizes how this trade set up could be rendered invalid. Please note the...
Based only on the candlesitck pattern my long term target is the re-test of 1.53531. Trading many times is much more simple than many believe. :)
Days ago, it attempted to go down into the trend line but it failed to pass through a support line and created to what it looks like a double bottom. After that, it broke the trend line, but it returned back to the trend making it a false alarm. Right now, it is in a place where it can break down or up. If it goes down, it will try to test the double bottom to...
EURCAD is sitting at major support right now and could go either way, RSI is showing positive divergence but the trend is clearly down. I would wait for bullish PA here or a break then re-test of support turning into resistance. Targets to the downside would be the 1.27 and 1.618 extensions. Upside targets would be to around 1.46 area. Stop either side of...
Looking at the EUR vs CAD on the daily time frame we can notice two days of indecision for the pair since the bearish fall from prior resistance at 1.53019. The indecision is noted with the two doji's formed at the support level at 1.49114. Doji candlesticks represent indecision as neither bears or bulls control the market. Prior to the doji at support the market...