EURCAD - Bullish Trend Formation
According to my analysis using the Relative Strength Index (RSI) indicator, there is a divergence present at the moment.
A bullish trend would be confirmed once the first LH (Lower high) is broken and the first HL (Higher Low) and HH (Higher high) are formed.
As part of my personal trade plan, I intend to enter a long trade with a 1:1 risk/reward ratio.
However, it is essential that you conduct your own thorough research and risk management strategies before making any trading decisions.
A bullish trend would be confirmed once the first LH (Lower high) is broken and the first HL (Higher Low) and HH (Higher high) are formed.
As part of my personal trade plan, I intend to enter a long trade with a 1:1 risk/reward ratio.
However, it is essential that you conduct your own thorough research and risk management strategies before making any trading decisions.
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