A trading opportunity to buy in EURCAD
Midterm forecast:
While the price is above the support 1.4750, beginning of uptrend is expected.
We make sure when the resistance at 1.5285 breaks.
If the support at 1.4750 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 1.5153 on 04/16/2019, so more losses to support(s) 1.4915, 1.4820 and minimum to Major Support (1.4750) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 45.
Trading suggestion:
There is a possibility of temporary retracement to suggested support zone (1.4820 to 1.4750). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (1.4820)
Ending of entry zone (1.4750)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 1.4915
TP2= @ 1.5010
TP3= @1.5115
TP4= @ 1.5195
TP5= @ 1.5285
TP6= @ 1.5360
TP7=@ 1.5450
TP8= @ 1.5640
TP9= @ 1.6150
TP10= Free
While the price is above the support 1.4750, beginning of uptrend is expected.
We make sure when the resistance at 1.5285 breaks.
If the support at 1.4750 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 1.5153 on 04/16/2019, so more losses to support(s) 1.4915, 1.4820 and minimum to Major Support (1.4750) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 45.
Trading suggestion:
There is a possibility of temporary retracement to suggested support zone (1.4820 to 1.4750). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (1.4820)
Ending of entry zone (1.4750)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 1.4915
TP2= @ 1.5010
TP3= @1.5115
TP4= @ 1.5195
TP5= @ 1.5285
TP6= @ 1.5360
TP7=@ 1.5450
TP8= @ 1.5640
TP9= @ 1.6150
TP10= Free
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