EURCAD 4H Analysis, 1st July 2021
Daily Trend : Bearish
4H Trend : Sideways
ECad on Daily timeframe is still bearish, but on 4H we could see that price stuck inside a big range and moving sideways (support 1.46700- resistance 1.48000)
Trade Scenario 1 :
If you are a conservative trader, it would be better if we break resistance or support to confirm the trend. After break then we wait for a retest to entry a position.
Trade Scenario 2 :
If you are an aggresive trader, you could take advantage of this sideways trend by jumping into lower timeframe for your entry timeframe. Everytime price hit resistance put sell and everytime price hit support put buy.
So, goodluck!
4H Trend : Sideways
ECad on Daily timeframe is still bearish, but on 4H we could see that price stuck inside a big range and moving sideways (support 1.46700- resistance 1.48000)
Trade Scenario 1 :
If you are a conservative trader, it would be better if we break resistance or support to confirm the trend. After break then we wait for a retest to entry a position.
Trade Scenario 2 :
If you are an aggresive trader, you could take advantage of this sideways trend by jumping into lower timeframe for your entry timeframe. Everytime price hit resistance put sell and everytime price hit support put buy.
So, goodluck!
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