7 June: EURCAD looks good for long
Updated
Hello everyone!
Seeing a trend reversal on EURCAD here, on the H1, prices could see a pullback to test the entry which is in line with the 78.6% Fibonacci confluence levels where we could see a bounce here. On the daily and H4 time frame, in terms of market structure, the resistance zones have been broken. I think we could be seeing a lot more upside on EURCAD for this week. In terms of fundamentals, markets will be watching ECB and BOC interest rates decision closely although we are not expecting any changes to the rates this time. BOC might sound less dovish as compared to its peers.
Trade ideas posted here daily, follow for the latest updates. If you have any views on the currencies please type in the comments below, I'd love to hear them!
Seeing a trend reversal on EURCAD here, on the H1, prices could see a pullback to test the entry which is in line with the 78.6% Fibonacci confluence levels where we could see a bounce here. On the daily and H4 time frame, in terms of market structure, the resistance zones have been broken. I think we could be seeing a lot more upside on EURCAD for this week. In terms of fundamentals, markets will be watching ECB and BOC interest rates decision closely although we are not expecting any changes to the rates this time. BOC might sound less dovish as compared to its peers.
Trade ideas posted here daily, follow for the latest updates. If you have any views on the currencies please type in the comments below, I'd love to hear them!
Trade closed: target reached
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