ECAD buy analysis 01/10/2020

This morning we are taking a look at a different pair. We have huge upside potential, providing we can respect support down at 1.55950, and break resistance at 1.56150 and then form a support around that area, we have good confirmations to execute longs with two big ranges to attack. Our first target would be resistance at 1.56750 before targeting 1.57350. As usual I would look to secure 10-20 pips and let the rest run. If support is broken there is no trade.