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EURCAD has just broken a minor downtrend on H1 & H4 Chart.
- Broken Trend Line, waiting for retracement back to Major H1 support level( 1.44784 ) & EMA 200 as EMA was also broken through.
- H4 Fibonacci level 0.5 has been rejected once.
Am not going to comment on the fundamental side of EUR&CAD as am not familiar with it, technical wise we might be seeing a...
Here looking for longs in green areas. I don't like to predict which one is more probable, I'll just monitor it and act accordingly.
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
EURCAD is approaching significant demand zone.
The market is currently trading within the falling wedge pattern.
If bulls break and close above the resistance line of the wedge,
for us, it will be a perfect signal to long the market.
Stop below the lowest point of the wedge.
T1 - 1.485
T2 - 1.495
Excelente confluencia de señales para entrar en corto para un buen swing trade. Rompimiento de tendencia alcista, pullback en nivel 50 de fibbo y formación las ultimas semanas de una tendencia bajista en crecimiento.
One way to determine the strength of a currency is to add 2 moving averages to the charts, one set to 5 and one set to 12. If both the 5 MA and the 12 MA is pointing upwards, that means +1 and vice versa if both of the MA:s are pointing downwards. If they are pointing against each other, different direction or are flat lined, thats equals 0 as we are most likely...
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Type : Swing & Elliott wave .
The EURCAD made an impulsive move to the upside and followed by a corrective structure that has retraced 61.8% of the rally.
The prices have rejected a broken resistance that lined up with mean value "moving averages" as support.
Price has the potential to resume higher from the near current level and resistance level @ 1.51700 area is a plausible target!