From the recent drop of the oil prices due to the disappointment of the market from the OPEC meeting and the recent bull of the Euro due to several factors (including the drop of the Dollar), the Euro-Canadian Dollar pair has been on a market range even during the bulls of the oil beforehand the OPEC meeting. It has now broken the mother bar and is slightly below...
Hi Traders, I wanted to share this Re-Analysis of a past idea I published. If you want to check it out the past idea is linked to this one. We are still analyzing the corrective structure. In a first beginning it looked like a converging flag and we expected a move up but it went out of structure and now we can identify perfectly that we are getting a corrective...
Hi traders, Planing different trades this week! I see a nice buy set up in EURCAD I think we have a clear structure in both 1H and 4H charts, looks like a triangle correction from a past impulse. We had 4 moves already so the fifth move is likely to happen due to the formation of a flag. If we trade the breaout of the flag we will have the chance of a 140 pip...
EUR is not having a great day, but a shift in good numbers from EUR will trigger a bull reaction and may reverse EURCAD. I am waiting for this to happen because every indicator on this chart is hinting a bull reaction. Wait for a confirmation before going in. Risk/Reward adjusted to 2.7.