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Eurcadforcast

EURCAD is bouncing up from the support level!EURCAD is bouncing up from the support level. Looking back at history we see that 1.339 level is a very significant one as buyers defended this zone several times in the past. Yesterday price bottomed at this level once again. We are not sure how strong this level is to hold price from falling, but taking a closer look at the level we see that the pair printed dojis or spinning bottom candles which suggest weaknesses on the sellers side. Strong bullish candles are seen on lower timeframe suggesting that buyers may be kicking in. I would like to see price crossing above the falling trendline to have some conviction to go long on this pair with short term targets at 1.34980 and 1.35648. If you enjoy reading my ideas please be kind to leave a like. Trade smart!
Long
by Forexintelligence_NA
2
EURCAD LONG EURCAD bounced from the MAJOR lower support level on the H4 and WEEKLY time frame, . we expecting the pair to retest the key levels listed on the chart. We taking this trade based on technical analysis and price action. (1) DO NOT ENTER ANY TRADE BEFORE THE ENTRY LEVEL (2) USE YOUR STOP LOSS (3) DO NOT HOLD A LOSS FOR MORE THAN 2 DAYS Please use proper risk management depending on your account size, Use lot sizes based on these calculations. Here is a break down of your pip value in ZAR and Dollars 0, 01 = R1,43 / $0,10c 0. 05 = R 7,15 / $ 0.50 0.10 = R 14,3 / $1.00 1 Lot size = R 146,26 How to calculate Margin = (Lot Size * Contract Size)/Leverage, Lets say your broker gives you 1:500, and you open 0,2 size, How much are you exposing ? calculations : (0.2 * 10 000) / 500 = $4 (R58) also (1 Lot * 100 000) / 500 = $200 (R2 960) So, each time I open (1 Lot size, am exposing R2960 (Down payment) Remember, These are long term trades, It is advisable to have enough margin to handle the fluctuation of the markets. Please like and share for more useful content:
Long
by Pro-Trading-Africa