I can see this as a perfect buy position, This trade can take up to a year to touch the TP
analysis mentioned on the chart.
EURCAD MOVING TOWARDS RESISTANCE WHAT CAN HAPPEN.....???? RED LINE : IF VOLUME IS HIGH THEN IT WILL BREAK THE RESISTANCE AND NOW WAIT FOR RETEST AND THEN.. GO LONG @ 1.55600 WITH STOP LOSS @ 1.55270 TAKE PROFIT @ 11.56600 GREEN LINE : IF VOLUME IS LESS AND FAIL TO BREAK THE RESISTANCE THEN GO SHORT @ 1.55550 WITH STOP LOSS @...
EURCAD 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 ... ...
EURCAD - Retracement on support' and resistance levels and targets
Trading 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....