EURCAD ANALYSIS AND TRADE SIGNAL
📈 EUR/CAD - Bullish Setup Analysis (4H Timeframe)
🔹 Pair: EUR/CAD
🔹 Bias: Bullish 📊
🔹 Key Levels:
Resistance Zone: 1.49000 (Supply Zone)
Major Target: 1.49941 (Next Resistance Level)
Ascending Trendline Support: Price is following an upward trend
🔍 Analysis:
Price is currently approaching a key supply zone (1.49000), where we may see either:
A breakout above the resistance leading to a continuation toward 1.49941
A rejection from the supply zone, potentially leading to a retest of the trendline before another push upward
The ascending trendline suggests that buyers are in control, and a breakout above the resistance could lead to further bullish movement.
📌 Trade Plan:
✅ Break & Retest Strategy: If price breaks above 1.49000 and retests successfully, a long position targeting 1.49941 could be valid.
✅ Trendline Bounce: If price rejects the supply zone and respects the ascending trendline, it could provide another buying opportunity.
📊 Let me know your thoughts! 🚀
🔹 Pair: EUR/CAD
🔹 Bias: Bullish 📊
🔹 Key Levels:
Resistance Zone: 1.49000 (Supply Zone)
Major Target: 1.49941 (Next Resistance Level)
Ascending Trendline Support: Price is following an upward trend
🔍 Analysis:
Price is currently approaching a key supply zone (1.49000), where we may see either:
A breakout above the resistance leading to a continuation toward 1.49941
A rejection from the supply zone, potentially leading to a retest of the trendline before another push upward
The ascending trendline suggests that buyers are in control, and a breakout above the resistance could lead to further bullish movement.
📌 Trade Plan:
✅ Break & Retest Strategy: If price breaks above 1.49000 and retests successfully, a long position targeting 1.49941 could be valid.
✅ Trendline Bounce: If price rejects the supply zone and respects the ascending trendline, it could provide another buying opportunity.
📊 Let me know your thoughts! 🚀
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.
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.