EURCAD is approaching our first resistance at 1.5224 (horizontal swing high resistance, 61.8% extension, 50% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1.5108 (61.8% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also approaching resistance where we might see a...
EURCAD Buy Trade Idea Daily
The sell-off the past 2 days has now fueled price to return to February 22 trendline support.
The 1.506 - 1.509 level proved to be a strong area of demand seen from price recent visit there.
I expect bullish momentum to continue for this pair having respected the trendline 3 times before.
From that demand, we should expect price to...
EURCAD is approaching its resistance at 1.5214 (61.8% Fibonacci extension, horizontal swing high resistance) where it is could reverse down to its support at 1.5107 (61.8% Fibonacci retracement, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal is expected.
BUY & SELL Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
EURCAD is approaching our first resistance at 1.5224 (horizontal swing high resistance, 61.8% extension, 50% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 1.5108 (61.8% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also approaching resistance where we might see a...
Looking to see the blue zone lose momentum, gather liquidity, before a push to the green zones.
Please view IMLTV for a DETAILED Monthly to 1H breakdown of movement.
EURCAD / H1 / Technical Chart
Bat pattern was triggered, Targets and stop level is on the chart
Wish you many pips
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If you have another analysis at this pair, please share in comments, I will be glad to discuss with you.
The Euro vs. the Canadian Dollar. The Euro is the second most popular reserve currency in the world and is considered to be very stable. The Canadian dollar is the seventh most commonly traded currency in the world and is highly dependent on Canada’s exporting of its natural resources, especially oil.
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