Since late August 2022, EUR/CAD has been in a bullish trend, gaining approximately 1,000 pips. However, after reaching a local high in early August 2024, the pair began trading within a range, encountering clear resistance around the 1.5150–1.5200 zone.
Last Thursday, the pair rebounded from range support, forming a strong bullish engulfing candle on the daily chart, which suggests a promising outlook for continued upward movement. I am looking to buy on dips in EUR/CAD with a target around 1.5200, while the trade setup will be negated if the price falls below last week’s low.
A confirmed bullish signal would be a daily close above 1.5000.
Last Thursday, the pair rebounded from range support, forming a strong bullish engulfing candle on the daily chart, which suggests a promising outlook for continued upward movement. I am looking to buy on dips in EUR/CAD with a target around 1.5200, while the trade setup will be negated if the price falls below last week’s low.
A confirmed bullish signal would be a daily close above 1.5000.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
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.