EURCAD 4HR FORECASTEURCAD Currently in Resistance Zone ..What we can expect.....
1) RED
Price break the resistance level and move downwards for correction and NOW resistance zone act as
Support Zone then GO LONG @ 1.55150
Take Profit @ 1.56280
2) BLUE
Price fails to break resistance and return to Support Zone and then it make a move towards resistance ...
Since it was fresh Zone can GO SHORT @ 1.55010
Take Profit @ 1.54200
Eurcadanalysis
Don't miss the great buy opportunity in EURCADTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.4592). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURCAD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 70.
Take Profits:
TP1= @ 1.4937
TP2= @ 1.5205
TP3= @ 1.5637
SL= Break below S2


