EURCAD turnaround to uptrend? 88 to 205 pips
We're looking out for EURCAD turnaround as buyers step in.
Will the break out happen on the 20EMA bounce or only after a complete cypher?
In either case, we're available for a LONG trade
Cypher formation
Point B - price retraces X, crosses 0.382 but not 0.618
Point C - price extends XA up to 1.272
Point D - we'll see if price retraces XC to 0.786
#Follow bizlus & share
Will the break out happen on the 20EMA bounce or only after a complete cypher?
In either case, we're available for a LONG trade
Cypher formation
Point B - price retraces X, crosses 0.382 but not 0.618
Point C - price extends XA up to 1.272
Point D - we'll see if price retraces XC to 0.786
#Follow bizlus & share
Note
The 20EMA offered good support, 80pips in the bag.Price is generally bullish, however major CAD news in about 12hours. Let's see if that sets up the Cypher harmonic.
Trade safe, trade your plan - babypips.com/learn/forex/what-is-a-trading-plan
Trade closed: target reached
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.