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Baljit_Singh

EURCAD - Potential long setup based on support and resistance.

Long
Euro / Canadian Dollar (FX:EURCAD)  
Baljit_Singh  
FX:EURCAD   Euro / Canadian Dollar
EURCAD Divergence reversal pivot support Support and Resistance Trend Lines bounce rally long-term pullback Relative Strength Index (RSI) Moving Average Convergence / Divergence (MACD) retracement
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eurcad divergence reversal pivot support supportandresistance trendline bounce rally long-term pullback relativestrengthindex macd retracement
All roads seem to be pointing to buy limit orders @ 1.4990 - 1.960. Price will likely head towards 1.5300 and turn back for the trend line and consolidate there for a bit and continue its long term rally. 1.4990 region is also a past lvl of support + 50% retracement + trendline, can anybody say confluence?

There is also an intraday short setup here as well. Price is approaching a 50% retracement in the swing high @Mar-19 and swing low @Apr-07. Bears will probably ride the reversal to the trendline for 300pips but given the overall trend bias I'll remain a bull on this pair.

Whatever happens I'm buyin' at the trendline!
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