kfrivaldo
Long

a healthy pull back is always good

FX:EURCAD   Euro / Canadian Dollar
37 views
0
37 0
Current market condition.
1. CAD along with AUD were the strongest currencies last week. will it continue or it will reverse?
2. Since CAD is heavily correlated with Oil , WTI and Brent is currently in contracting phase where it formed a symmetric triangle which suggests that neither the bulls nor bears are in control. As such, we have to wait and see.
3. On the other hand, EUR has shown significant weakens across it's pairs and started just last week. Prior to that, EUR was one of the strongest for several weeks. This suggest that the recent weakness could just be a healthy pullback.
4. A buy order @ 1.5628 gives a better risk reward in favor to the longer time frame uptrend.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out