Hello,
Thoughts on EUR/CAD:
It looked like our buy zone was broken but then suddenly a buying pressure appeared. The breakout was fake and the zone is still valid.
The next try from the sellers didn't go far. As a matter of fact it struggled to make lower low moving inside a range for a whole day.
Furthermore, a strong bullish candle appeared ,breaking the range.
Huge bullish divergence.
Daily outlook - the price dropped into the buy zone. Tried to break it but unsuccessfully.
Those things make me think we are going to watch a rally to our recent resistance which is around 1.4930 area.
Good luck !
Thoughts on EUR/CAD:
It looked like our buy zone was broken but then suddenly a buying pressure appeared. The breakout was fake and the zone is still valid.
The next try from the sellers didn't go far. As a matter of fact it struggled to make lower low moving inside a range for a whole day.
Furthermore, a strong bullish candle appeared ,breaking the range.
Huge bullish divergence.
Daily outlook - the price dropped into the buy zone. Tried to break it but unsuccessfully.
Those things make me think we are going to watch a rally to our recent resistance which is around 1.4930 area.
Good luck !
Comment:
1st target around 1.4900
Comment:
1.4900 attained.
Trade closed: target reached:
Full target.