- While the euro-zone slowdown supports a weaker euro, the recent bullish rally in oil favors a stronger Canadian dollar.
- On a technical level, EURCAD has just broken out of a bearish flag formation on the 4h chart, revealing further downside potential. The next major resistance level is at 1.48855, which is why it is our target.
- Entry: 1.50640
- SL: 1.51120
- TP: 1.48855
I will start posting trades as a way to build a personal journal. You should always do your own analysis before entering a trade.
- On a technical level, EURCAD has just broken out of a bearish flag formation on the 4h chart, revealing further downside potential. The next major resistance level is at 1.48855, which is why it is our target.
- Entry: 1.50640
- SL: 1.51120
- TP: 1.48855
I will start posting trades as a way to build a personal journal. You should always do your own analysis before entering a trade.
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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.