Trade the correction on EURCAD
After the recent price losses, EURCAD has stabilised for the time being.
The movement permits a trade in the sense of classic trading out of the correction.
A bullish breaker block underpins a short-term optimistic view on the currency pair.
Traders can place the stop loss below the last open FVG.
The unmitigated IFVG in the 1.4789 area is a good take profit. The particular attraction of this target is the fact that the open IFVG is in close proximity to the 61.8% retracement of the recent downward movement.
The trade thus achieves an RRR of 1.5:1.
The movement permits a trade in the sense of classic trading out of the correction.
A bullish breaker block underpins a short-term optimistic view on the currency pair.
Traders can place the stop loss below the last open FVG.
The unmitigated IFVG in the 1.4789 area is a good take profit. The particular attraction of this target is the fact that the open IFVG is in close proximity to the 61.8% retracement of the recent downward movement.
The trade thus achieves an RRR of 1.5:1.
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