EURCAD broke the bearish flag on Monthly timeframe, big bearish signal.
As you see oil also changed the trend, and its now in a uptrend after it broke the previous top, but soon oil will make a correction, so eurcad will make a correction as well.
Wait for the price to retest the broken bearish flag, then short it from there to the targets mentioned in...
EURCAD reached a weekly and monthly major support level and retested the trendline after a strong impulse to the downside without any correction. We can expect growth from here before continuing the move to the downside or break of the bearish movement.
This post does not provide financial advice. It is for educational purposes only! You can use the information...
This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions
What we see on EURCAD is quite clear and nice, price bouncing between two trendlines,
And for now we are in really strong area which you can see as gray rectangle
❗️ 1st lets wait for price to close above our support then set this order ❗️
2nd: set our 1:5 order and fly with the price
⚠️Take Max 1% of your capital on this trade⚠️
We consider to buy this EURCAD pair because of a strong support below. We know what we are doing and we do what the market is doing. This is more than an institutional analysis. Invest wisely. Thank you for following me on tradingview.
Same setup with NZDCAD, price right now at a horizontal support area. The difference of this setup with NZDCAD,
EURCAD pair retracement is at 78.6% fibonacci.
Buy EURCAD 1.4800
Stop loss 1.4680
Take profit 1.5190 (3.25R)
Use only 1-2% risk