EN: For the 4th time, EURCAD reach the bottom line of the wedge up, so in a medium/long term, we return to 1.65!
FR: Pour la 4e fois, on atteint maintenant la ligne inférieur du wedge up, donc à moyen terme, on revient vers les 1.65!
The EUR/CAD currency pair on the 4-hour time frame has been following a downtrend recently. The price dipped below the key support level of 1.49200 on 2 April registering the lowest level in 1 month. Price action in the EUR/CAD is mainly driven by the weakness in Euro. Negative MACD and RSI below 50 supports bearish sentiment in the currency pair.
The 4-hour chart...
Opening a sell on this pair , as i'm anticipating a huge sell off on EUR , sooner rather then later. Price stuck at resistance , TP1 around 1.51000 . Move SL into TP 1 and let it run .
Remember to move SL into Entry when price move into direction.
We trading within a range here , Although our downtrend channel was broken previously , but looking at the red candle engulfing , it capped the uptrend movement for now . So I'm Selling looking for 30-70pips .
The EUR/CAD currency pair is currently moving in an ascending channel. The price is nearing the upper channel resistance and we can expect sellers to come in and drive the price further down towards the channel support trendline. Be yea careful as there is too much noise caused by the Brexit issue along with Theresa May's cunning tactics. I would expect to enter...
this is why u will never get same position-answer from pro or amateur traders...
somebody see this as assending channel
somebody see this as break of minor patter-assending channel(revers pattern)
whitin major pattern and ressistance(channel with little desending)
so here u have nice buy option and nice sell option....
point of this is to never listen to other...
As we can se the price is testing resistance in 1,54 area.
We have strong confluence up there whitch is 2 times testing resistance and 2 times support,
there is also trending line which was respected since September 2017, we had a break in May now price i retesting this line,
There is also 0,382 fibonaci retracement.
I decide to go in that trade now.
1H time frame shows a double bottom structure, currently in an uptrend back up to the neckline. Looking for a break or a bounce at the resistance level in order to enter a trade. One to watch over the next few hours to see if we get closer to the resistance level.