Eurcadbullish
EURCAD Short Term Buy IdeaH4 - Bullish trend pattern followed by a pullback.
Most recent downtrend line breakout.
Higher highs.
Expecting short term bullish moves to happen here.
H1 - Bullish trend pattern.
Currently it looks like a pullback is happening.
Until the strong support zone holds I expect the price to move higher further after pullbacks.
7 June: EURCAD looks good for longHello everyone!
Seeing a trend reversal on EURCAD here, on the H1, prices could see a pullback to test the entry which is in line with the 78.6% Fibonacci confluence levels where we could see a bounce here. On the daily and H4 time frame, in terms of market structure, the resistance zones have been broken. I think we could be seeing a lot more upside on EURCAD for this week. In terms of fundamentals, markets will be watching ECB and BOC interest rates decision closely although we are not expecting any changes to the rates this time. BOC might sound less dovish as compared to its peers.
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EURCAD 1H TIMEFRAME ANALYSIS (BUY) From the strategy we use the market is seem to approach a strong level of support and therefore we expect the price to buy at the opening of the market. We expect to buy at 1.55158, SL 1.54657 and our TP is around 1.57654. We target around 250 pips while we risk around 50 pips and we will continue to minimize our risk as the price continues to move in our direction. Disclaimer (Use this information at your own risk).