EURCAD Long Idea
Market broke out of a SnR zone that as been rejecting price on the weekly time frame.
Market broke a resistance zone came back to retest it creating a demand zone. Now market is pulling back into the demand zone at 0.5 fib level and a round number @ 1.49 where buyers can push the market back up.
We will wait for BULLISH CANDLESTICK CONFIRMATION before going long from the zone.
If this zone fails to hold then the next zone to watch out for will be at 0.236 fib level
Market broke a resistance zone came back to retest it creating a demand zone. Now market is pulling back into the demand zone at 0.5 fib level and a round number @ 1.49 where buyers can push the market back up.
We will wait for BULLISH CANDLESTICK CONFIRMATION before going long from the zone.
If this zone fails to hold then the next zone to watch out for will be at 0.236 fib level
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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.