EURCAD - LONG is worth the risk!
EURCADThis pair could potentially go to the upside. Here are my confirmations:
1. It created a new higher high.
2. It retraces at .618 fibonacci level.
3. It retraces at the strong support horizontal line
4. Created a bullish engulfing candle.
Further more, if you span it on a wider picture, it is actually a descending wedge on the weekly TF which is a strong indicator that the price might go to the upside.
RISK FILTERS:
1. Risk only 1% of your capital.
2. Never trade when there is an upcoming high-impact news release.
3. Never trade this pair together with EURAUD because they have similar price movements.
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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.
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.