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EUR-CAD

EUR/CAD - Simple Support and Resistance tradeHey, I am back with another Forex Idea, this time looking at EUR/CAD. I will be using the Support and resistance strategy for this trade. I reccomend to long this pair at area of 1.50750 to 1.51000, the higher your entry will be, the less Risk reward you will have, but also a higher chance of being filled, I will rather not be filled than having a bad risk reward ratio, but this time the risk reward ratio is very high so you can base your Entry even above this "Long entry area". Don't forget to set up your Buy Limit to not miss out on this signal. Don't forget to follow me, to not miss out on a good trade opportunities😉 Each Like is very much appreciated! 🙌 If you have any questions, feel free to ask.
Long
by TiborVrbovsky
Intraday ShortMN-W1 price above ema-20/50/200. D1 price is above ema-200, price appears to be consolidating on as ema-20/50 are intertwining with consolidating falling wedge pattern. Price has bounced back several times from the high of 24-03-20, each time before reaching its price target a correction appears suggested by price trending above H4-ema-20/50. D1-MACD bearish with increase in divergence. H4-MACD bearish with increase in divergence. H1-MACD bullish with increase in divergence, however price is still below ema-20/50/200. This could suggest possible oversold condition on -H1 meaning a correction is due on the shorter timeframe before resuming bearish trends. From the bearish trend starting 05-06-20 price has constantly respected the 5m-ema-20 breaching it and testing 5m-ema-50, however, recently price has now gone as far as testing the 5m-ema-200 and reversing with the equal support from the macd which was not the case previously. 1) SELL -H1: Market Execution Stop Loss: 1.5160 Take Profit: 1.5060 2) If price is still in its correction stage, wait for price to move above 1.5190 which 15m-ema-200 which may be prices next target. SELL -H1: Sell Stop: 1.5190 Stop Loss: H1-ATR above entry Take Profit: 1.5060
by Leoryder