EURCAD, 1D
Hello traders.
As we can see by my chart there is an uptrend broken by a falling wedge meaning there is going to be another push to the upside.
Further analysis shows that when price was lower previously (Area 1) both bears and bulls didn't have much movement, and market went sideways until bulls took over and drove the price up.
I have also marked (Area 2) a small band of resistance where price has been rejected 3 times, highlighted in red circles.
Hopefully the falling wedge breaks and I will wait until confirmation within red ellipsis before placing a buy in this pair.
Please share your views, like and comment and even give me a follow :)
Thanks, Roo.
Please note, I am not a professional trader and do not control the market. These are simple ideas based on what I see and what I have learnt. Please be patient and react to the market, do not try to act for it. Risk is on you if you choose to follow as I cannot be responsible for your Forex account.
As we can see by my chart there is an uptrend broken by a falling wedge meaning there is going to be another push to the upside.
Further analysis shows that when price was lower previously (Area 1) both bears and bulls didn't have much movement, and market went sideways until bulls took over and drove the price up.
I have also marked (Area 2) a small band of resistance where price has been rejected 3 times, highlighted in red circles.
Hopefully the falling wedge breaks and I will wait until confirmation within red ellipsis before placing a buy in this pair.
Please share your views, like and comment and even give me a follow :)
Thanks, Roo.
Please note, I am not a professional trader and do not control the market. These are simple ideas based on what I see and what I have learnt. Please be patient and react to the market, do not try to act for it. Risk is on you if you choose to follow as I cannot be responsible for your Forex account.
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