EUR/CAD 1H Technical Analysis
Trade Outlook:
The pair is in an uptrend as price is trading above EMA 21, EMA 50, and MA 20.
RSI at 76.29 is in the overbought zone, signaling a potential pullback or reversal.
EMA 200 is above the price, suggesting potential resistance ahead.
Potential Trade Setups:
Trade # 1
Short Trade (Reversal Setup)
Entry: 1.48550 - 1.48650 (Wait for rejection at EMA 200)
Stop Loss: 1.48800 (Above EMA 200)
Take Profit: 1.48200 - 1.48000 (EMA 50 Support)
Trade # 2
Long Trade (Trend Continuation)
Entry: 1.48200 - 1.48150 (Buy on dip near MA20/EMA21)
Stop Loss: 1.48000 (Below EMA 50)
Take Profit: 1.48700 - 1.48850
Conclusion:
Bullish bias remains, but RSI signals possible short-term pullback.
Monitor price action near 1.48550 - 1.48650 for a sell setup.
Look for buying opportunities on dips near EMA 21 / MA 20.
📊 Wait for confirmation before entering a trade! 🚀
leave your comments boys!!!!
The pair is in an uptrend as price is trading above EMA 21, EMA 50, and MA 20.
RSI at 76.29 is in the overbought zone, signaling a potential pullback or reversal.
EMA 200 is above the price, suggesting potential resistance ahead.
Potential Trade Setups:
Trade # 1
Short Trade (Reversal Setup)
Entry: 1.48550 - 1.48650 (Wait for rejection at EMA 200)
Stop Loss: 1.48800 (Above EMA 200)
Take Profit: 1.48200 - 1.48000 (EMA 50 Support)
Trade # 2
Long Trade (Trend Continuation)
Entry: 1.48200 - 1.48150 (Buy on dip near MA20/EMA21)
Stop Loss: 1.48000 (Below EMA 50)
Take Profit: 1.48700 - 1.48850
Conclusion:
Bullish bias remains, but RSI signals possible short-term pullback.
Monitor price action near 1.48550 - 1.48650 for a sell setup.
Look for buying opportunities on dips near EMA 21 / MA 20.
📊 Wait for confirmation before entering a trade! 🚀
leave your comments boys!!!!
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.