Support and Resistance Zones
Check for recent support or resistance levels. If EUR/CAD is close to a significant resistance and your take-profit target lies just below it, this could indicate a high-probability area for price reversal.
A large stop loss (320 pips) may indicate potential volatility. Ensure that this stop is placed below a strong support zone to avoid unnecessary loss on sudden market moves.
2. Market Sentiment and Fundamental Drivers
EUR/CAD is heavily influenced by factors such as the European Central Bank (ECB) and Bank of Canada (BoC) monetary policies, as well as commodity prices, particularly oil.
Recent EUR or CAD economic data (e.g., inflation reports, interest rate decisions) could give insight into the market’s bias and help determine if a 100-pip target is achievable.
Check for recent support or resistance levels. If EUR/CAD is close to a significant resistance and your take-profit target lies just below it, this could indicate a high-probability area for price reversal.
A large stop loss (320 pips) may indicate potential volatility. Ensure that this stop is placed below a strong support zone to avoid unnecessary loss on sudden market moves.
2. Market Sentiment and Fundamental Drivers
EUR/CAD is heavily influenced by factors such as the European Central Bank (ECB) and Bank of Canada (BoC) monetary policies, as well as commodity prices, particularly oil.
Recent EUR or CAD economic data (e.g., inflation reports, interest rate decisions) could give insight into the market’s bias and help determine if a 100-pip target is achievable.
Trade closed: target reached
MISSON COMPLETE TRADE CLOSED
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.