EURCAD BREAKOUT IMMINENT?
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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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.