EUR/CAD Multi-Time frame analysis

Hi Traders

EUR/CAD Multi-Timeframe analysis

H1 Chart (Bearish)

A medium probability, entry signal to go SHORT will be given after the completion of a bearish trend reversal on the lower time frame at 1.46867 after the market found resistance at 1.47157 . Only the upward break of 1.47157 would cancel the bearish scenario.

Support & Resistance
1.46686 1.47146
1.46415 1.47270
1.45955 1.47431

H4 Chart (Bullish)

The completion of a trend reversal formation at 1.47288 has forced us to close our position earlier than we had planned. Now we are looking for the next opportunity to enter the market.

Support & Resistance
1.47410 1.47757
1.46415 1.47997
1.45810 1.48992

Daily Chart (Bearish)

The completion of a trend reversal formation at 1.47607 has forced us to close our position earlier than we had planned. Now we are looking for the next opportunity to enter the market.

Support & Resistance
1.47237 1.48156
1.45810 1.52092
1.44426 1.53833

Weekly Chart (Strong Up)

Waiting for a retracement higher towards the 1.47237 resistance level in order to reinstate SHORT positions. Next important resistance is the 1.50518 level.

Support & Resistance
1.45810 1.47237
1.44478 1.50518
1.42626 1.51914