EURCAD prepares to go long
Technically EURCAD has a bias to go long.
This pair has been holding the support level @ 1.5100 quite consistently. Daily candles although did traded below this support level but was unable to close beyond it.
For the past 2 weeks this pair has been in a downtrend but in terms of higher TF analysis it is much more likely to be a retracement/ market correction.
At the lower TF we can see the pair finally invalidated the downtrend trend line and forming a "shoulder-head-shoulder" (although not so classical) signalling a potential reversal of current trend and this pair might trending up furthur.
The first potential TP level will be at the the recent swing high resistance @ 1.5930
This pair has been holding the support level @ 1.5100 quite consistently. Daily candles although did traded below this support level but was unable to close beyond it.
For the past 2 weeks this pair has been in a downtrend but in terms of higher TF analysis it is much more likely to be a retracement/ market correction.
At the lower TF we can see the pair finally invalidated the downtrend trend line and forming a "shoulder-head-shoulder" (although not so classical) signalling a potential reversal of current trend and this pair might trending up furthur.
The first potential TP level will be at the the recent swing high resistance @ 1.5930
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.