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...
1) Trading near major support area of 1.46100
2) Bullish Harami candle
3) Falling wedge
1) LL LH
2) Currently trading in downward trend
Plan A: On the bounce from the support area one can buy for the target 1.47733 first and then for the 1.48075.
Plan B: On the breaking of trendline and support one can sell for the...
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⚠️
eurcad sell :
1)my ema lines confirmation(dont ask guys its secret)
2)nice pattern trend
3)naked candles will be appearing
but wait for more confirmations until we update here
take profit : green line
stop loss : red line
I think FX:EURCAD has a good long trend for the next 6-9 months.
We have now crossed the strong support line at 1.47320 and are consolidating at this level.
I indicated the points where you can fix the profit:
* TP1 = 1.52600 (November 2021)
* TP2 = 1.55840 (May 2022) << near border of flag
We expect EURCAD to move forward upside as it's consolidating a major support area last couple of weeks. Also, the Eurozone covid situation is under control, and most of the tourist spots will open soon.
EUR/CAD Multi-Timeframe analysis
H1 Chart (Bearish)
A medium probability, entry signal to go SHORT will be given after the completion of a bearish trend reversal on the lower time frame at 1.46867 after the market found resistance at 1.47157 . Only the upward break of 1.47157 would cancel the bearish scenario.
Support & Resistance