EURCAD BREAKOUT IMMINENT?
Updated
On the chart you can see we have had a strong move upwards, followed by a pennant formation, this indicates that a breakout may be about to happen.
I have set alerts for a breakout of both the top and bottom of the formation, however I have a bullish bias towards the pair.
Always make sure trade ideas align with your own strategy and never blindly trade what others say.
I have set alerts for a breakout of both the top and bottom of the formation, however I have a bullish bias towards the pair.
Always make sure trade ideas align with your own strategy and never blindly trade what others say.
Note
Reasons for bullish bias: MFI Divergence + buy signalMomentum indicator beginning to point upwards.
I will be looking to enter around 1.465
with SL at 1.460
and TP from 1.466 to 1.469
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