Trade77, EURCAD Long Opportunity 7pm


Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
EURCAD was sharply down and now it’s exactly at the daily trendline:

Also it’s going to bounce off the 1.618 fibo extension. But if assume that an ABCD pattern going to be formed it might fall to 1.3400.
For now I expect it to go at least to somewhere around 1.3530 and 1.3545 before any other moves.

Keep it tight as tomorrow we have a holiday on US.
UPDATE(1 hour later) : I saw some different charts in different plaforms, so I don’t like to go long here and will wait for some confirmations.

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Regards

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  • Anonymous

    It’s seems that you haven’t got correct insight about the forex market and didn’t read this article completely!
    In this cases I should mention you that market can’t go in a specific trend for a long time and would correct itself, Now this pair is in a support zone and could correct itself 50pips that I said in the article. This position is a scalp, you should know that scalp positions could be counter trend.

    Thanks for your comment.

  • Stock_rocket

    are you completely nuts? – who in their right mind would suggest going long EUR against CAD in the current environement?

    Eur fundamentals are ‘lights out” while Canada (oil…..duh??!) is close to the strongest on the planet! – good luck.