In the weekly time frame, EURCAD is forming a bullish flag pattern and appears to have been in a distribution phase for some time.
On the daily time frame, EURCAD is following a bullish trend line and is currently near the bottom part of this trend line.
In the hourly time frame, the trend has been bearish, but it shows divergence, indicating a potential shift to a bullish trend. Based on this analysis, we will take a trade with the following parameters:
Entry Point: 1.47542
Stop Loss: 1.46847
Take Profit: 1.48450
On the daily time frame, EURCAD is following a bullish trend line and is currently near the bottom part of this trend line.
In the hourly time frame, the trend has been bearish, but it shows divergence, indicating a potential shift to a bullish trend. Based on this analysis, we will take a trade with the following parameters:
Entry Point: 1.47542
Stop Loss: 1.46847
Take Profit: 1.48450
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.