- While the euro-zone slowdown supports a weaker euro, the recent bullish rally in oil favors a stronger Canadian dollar.
- On a technical level, EURCAD has just broken out of a bearish flag formation on the 4h chart, revealing further downside potential. The next major resistance level is at 1.48855, which is why it is our target.
- Entry: 1.50640
- SL: 1.51120
- TP: 1.48855
I will start posting trades as a way to build a personal journal. You should always do your own analysis before entering a trade.
- On a technical level, EURCAD has just broken out of a bearish flag formation on the 4h chart, revealing further downside potential. The next major resistance level is at 1.48855, which is why it is our target.
- Entry: 1.50640
- SL: 1.51120
- TP: 1.48855
I will start posting trades as a way to build a personal journal. You should always do your own analysis before entering a trade.
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