Price has dropped into a demand zone on the 8hr chart of EURCAD. Looking to go long if price can move above 1.5629. Stop will go below the demand zone at or below 1.5573. I think price is making its way to 1.6 so ultimate target will be set right before at 1.5909. A trail stop can be used as price makes its way to the target.
Currently EUR is stronger than the CAD. As confirmation we would want to see the EUR start to strengthen and move away from the CAD as they are close on the relative strength scale.
Currently EUR is stronger than the CAD. As confirmation we would want to see the EUR start to strengthen and move away from the CAD as they are close on the relative strength scale.
Trade fermée manuellement:
Demand zone did not work as planned. Out with a small loss
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