EURCAD BUY 8/13
Updated
MACRO:On the last week of July, price attempted to reach the highs(1.61) but could not and is retesting support(1.56). On the weekly chart you can see the strength of the 1.56 zone as price failed to close above after attempting to for the entire month of March. On the last week of July, price attempted to reach the highs(1.61) but could not and is retesting support(1.56). Price is looking to reach that high(1.61).
MICRO: On the H4 you can see that the .786 fib lines up with our 1.56 and the 200 EMA is approaching. Good confluence buy . SL down to the .886(1.55335 TP at 1.60926.
MICRO: On the H4 you can see that the .786 fib lines up with our 1.56 and the 200 EMA is approaching. Good confluence buy . SL down to the .886(1.55335 TP at 1.60926.
Trade active
Currently up around 85 pips. retracing in a triple bottom breakout fashion to retest the previous highs and go further. perfect time to place a second position
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