Price rejecting daily resistance multiple times, showing there is a higher probability of shorts.. However I will be watching for a break of the CTL & retest before entering short. If price breaks above the resistance its testing currently, I will look to buy up to weekly resistance. Lets see how price action plays out!
The common European currency has been trading in a neat channel up against the Loonie since September 1. The pair managed to test both boundaries during the past two weeks, thus forming a junior channel down. This short-term pattern, however, is unlikely to hold for long due to its steepness. After testing the monthly S1 at 1.4925 on December 6, the Euro tried ...
Hi Traders, TradingView has given me a great opportunity to share a short video with you breaking down the EUR.CAD in a little more detail explaining the initial confluence, entry, stop loss and take profit levels. Thank you for the continued support & a BIG thank you to TradingView for their continued amazing work and service.
Fundamental: CAD: Latest BOC rate is maintained at 1%. This further pressure CAD as it coupled with slow NAFTA progress. Technical: Uptrend channel persist after BOC rate is maintained at 1.0% Price is now at the bottom of the channel. Target 1R lower than previous high, but if price broke the level, next target is below weekly resistance 2R