Long EURCAD: Potential move back to the 1.50000/50 area (SnD)
EURCAD appears to be willing to move higher again after this morning's correction.
1) The market made a bullish leg up recently, hinting at the aggressive presence of the bulls.
2) The market is currently testing a valid Demand zone that was tested once before and is expected to hold for the second time.
3) The market is testing a horizontal Support level around the 1.49500 psychological level.
Price action and Volume would be the determinant of the short-term future direction of the market; if these two confluence factors fail to deliver confirmations, the market might continue heading downwards for the remaining of the trading sessions today.
1) The market made a bullish leg up recently, hinting at the aggressive presence of the bulls.
2) The market is currently testing a valid Demand zone that was tested once before and is expected to hold for the second time.
3) The market is testing a horizontal Support level around the 1.49500 psychological level.
Price action and Volume would be the determinant of the short-term future direction of the market; if these two confluence factors fail to deliver confirmations, the market might continue heading downwards for the remaining of the trading sessions today.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.