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Is EURCAD ready to stage a massive recovery?
We saw EURCAD massively rally from the 1.3000 monthly support level to 1.3600 and close extremely bullish on the monthly chart, showing a clear candlestick reversal pattern after a significant drop in recent months.
We've since seen a pullback to retest the broken resistance, now support, around 1.3400 with the potential to head lower towards the liquidity pool area around 1.3330, which we reached yesterday.
The market found last buyers and aggressively rejected off the liquidity pool area as expected. On the daily chart, we saw the daily candle close as a bullish hammer, potentially signaling the reversal to continue up. We also saw rejection off the 38.2% fib level, which adds confluence for the upside.
Could we see a continuation up and a second leg towards 1.3750?
We've since seen a pullback to retest the broken resistance, now support, around 1.3400 with the potential to head lower towards the liquidity pool area around 1.3330, which we reached yesterday.
The market found last buyers and aggressively rejected off the liquidity pool area as expected. On the daily chart, we saw the daily candle close as a bullish hammer, potentially signaling the reversal to continue up. We also saw rejection off the 38.2% fib level, which adds confluence for the upside.
Could we see a continuation up and a second leg towards 1.3750?
Global risk Warning CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading in CFDs. You should consider whether you understand how CFD
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Global risk Warning CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading in CFDs. You should consider whether you understand how CFD
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。