EURCAD - H4 Long, Potential Double Bottom
EURCAD ended with a strong bearish momentum last week. Buyers were trapped as the Canadian dollar fundamentals came out stronger than expected. The next area for longs and strong support will be about 80 pips down from current price. The long can reject once and immediately begin the reversal instead of creating double bottom or higher low. Either way the potential for a 100-200 pip move remains very promising on EURCAD.
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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.