Receive the latest alerts via email

Trade of the Day: EUR/CAD

By: Dima Chernovolov EUR/CAD continues to rise inside the daily Triangle chart pattern which was previously identified by Autochartist. Autochartist rates the quality of this Triangle at the 4-bar level – which is the result of the slow Initial Trend (1 bar), significant Uniformity (8 bars) and below-average Clarity (4 bars). EUR/CAD is expected to…
Trade of the Day: EUR/CAD

By: Dima Chernovolov

EUR/CAD continues to rise inside the daily Triangle chart pattern which was previously identified by Autochartist. Autochartist rates the quality of this Triangle at the 4-bar level – which is the result of the slow Initial Trend (1 bar), significant Uniformity (8 bars) and below-average Clarity (4 bars). EUR/CAD is expected to rise further inside this Triangle – in line with the earlier upward reversal from the key support area described below.

As can be seen from the daily EUR/CAD below, the pair earlier reversed up from the support area lying between the multi-month support level 1.4900 (which has been reversing the price from November) and the lower daily Bollinger Band. The proximity of this support area increases the probability EUR/CAD will continue to rise inside this Triangle.

Total
0
Shares
Previous Post
When Your Trading Strategy Stops Working

When Your Trading Strategy Stops Working

Next Post
Trade of the Day: CAD/CHF

Trade of the Day: CAD/CHF

Related Posts
Trade of the Day:  GBP/CAD

Trade of the Day: GBP/CAD

GBP/CAD recently broke the key 30-minute resistance level 1.6152, which was recently identified by Autochartist. Autochartist rates the significance of this resistance level at the 3-bar level – which is the result of the three previous reversals from this price level. GBP/CAD is expected to rise further toward the forecast price 1.6258. As can be…
Lire la suite
Trade of the Day:  EUR/CAD

Trade of the Day: EUR/CAD

EUR/CAD continues to fall toward the key support level 1.4491, which was previously identified by Autochartist. Autochartist rates the Significance of this support level at the 5-bar level – which is the result of the five previous reversals from this price level. EUR/CAD is expected to continue to fall toward the support level 1.4491. As…
Lire la suite