Wikiwicks

EURCAD fundamentally bullish

Long
FX:EURCAD   Euro / Dollar Canadien
#EURCAD:

(1D):
Last swing low confirmed that the triangle was actually a falling wedge, which converged with the 200 EMA, still confirming the overall uptrend.

Here fundamental role plays around OIL prices. With Biden victory, we might see covid restrictions implemented, with a decrease of transports. This would mean falling oil prices (currently downtrending).

(4H):
Last price action is very choppy right above the wedge bottom. However, the price started making HH and HL so the bullish structure is confirmed.

(1H):
Following the higher timeframe structure, we are waiting for a clear bullish continuation pattern before going long.
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.