**EUR/CAD (Euro/Canadian Dollar) currency pair** on a **1-hour timeframe**. Here are the key details:
https://www.tradingview.com/x/7ZipsXga/
**Chart Analysis:**
1. **Pattern Identified:**
- A **falling wedge** pattern has been detected, which is generally a **bullish reversal** signal.
- The price has broken out of the wedge, confirming the reversal.
2. **Exponential Moving Averages (EMAs):**
- **EMA 7 (Purple):** 1.54373
- **EMA 21 (Blue):** 1.54117
- **EMA 50 (Yellow):** 1.54102
- Price is now **above these EMAs**, indicating a possible uptrend continuation.
3. **Price Action:**
- The breakout has led to a strong bullish move.
- The **target** is marked above the breakout point, suggesting further upside potential.
- Current price: **1.54411**
4. **Volume Insight:**
- Volume increased during the breakout, confirming buying pressure.
**Conclusion:**
- The falling wedge breakout suggests **bullish momentum** in EUR/CAD.
- If price sustains above the EMAs, it could reach the marked **target zone**.
- Watch for **support at 1.541** and resistance near the **target level**.
The **target** after the **falling wedge breakout** is marked on the chart and appears to be around **1.5480 - 1.5500**.
**Key Levels to Watch:**
- **Support:** 1.5410 (EMA 50)
- **Resistance/Target:** Around **1.5480 - 1.5500**
If momentum continues, price may reach this **target zone**.
The ideal **stop-loss (SL)** for this EUR/CAD trade should be placed **below the breakout zone** of the falling wedge to minimize risk.
**Suggested SL Levels:**
1. **Conservative SL:** **1.5400** (Below EMA 50 & breakout structure)
2. **Aggressive SL:** **1.5375** (Below the last swing low inside the wedge)
https://www.tradingview.com/x/7ZipsXga/
**Chart Analysis:**
1. **Pattern Identified:**
- A **falling wedge** pattern has been detected, which is generally a **bullish reversal** signal.
- The price has broken out of the wedge, confirming the reversal.
2. **Exponential Moving Averages (EMAs):**
- **EMA 7 (Purple):** 1.54373
- **EMA 21 (Blue):** 1.54117
- **EMA 50 (Yellow):** 1.54102
- Price is now **above these EMAs**, indicating a possible uptrend continuation.
3. **Price Action:**
- The breakout has led to a strong bullish move.
- The **target** is marked above the breakout point, suggesting further upside potential.
- Current price: **1.54411**
4. **Volume Insight:**
- Volume increased during the breakout, confirming buying pressure.
**Conclusion:**
- The falling wedge breakout suggests **bullish momentum** in EUR/CAD.
- If price sustains above the EMAs, it could reach the marked **target zone**.
- Watch for **support at 1.541** and resistance near the **target level**.
The **target** after the **falling wedge breakout** is marked on the chart and appears to be around **1.5480 - 1.5500**.
**Key Levels to Watch:**
- **Support:** 1.5410 (EMA 50)
- **Resistance/Target:** Around **1.5480 - 1.5500**
If momentum continues, price may reach this **target zone**.
The ideal **stop-loss (SL)** for this EUR/CAD trade should be placed **below the breakout zone** of the falling wedge to minimize risk.
**Suggested SL Levels:**
1. **Conservative SL:** **1.5400** (Below EMA 50 & breakout structure)
2. **Aggressive SL:** **1.5375** (Below the last swing low inside the wedge)
Trade closed: target reached
🎉🚀 **EURCAD All Targets Hit!** 🎯💰 Congratulations! 🎊 The trade has reached all targets—**close your positions and enjoy the massive profits!** 🏆💵 Time to celebrate a successful trade! 🔥🥂
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.
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.