Confluences:
1:Daily Chart Trendline Breakout
2: Daily Chart Bullish Engulfing Candle
Entry:
An entry in the early hours of Friday Morning (Before London Session) is best. Trade will run for 2-3 day or until target is reached. Whichever comes first.
Summary: EURCAD is in a strong down trade on the Higher time frame such as the monthly and Weekly. This is why this trade will be held for a short time due to it being a counter trend trade. We should see a bullish pull back towards 1.50000 area before price continues in the dominate bearish trend.
1:Daily Chart Trendline Breakout
2: Daily Chart Bullish Engulfing Candle
Entry:
An entry in the early hours of Friday Morning (Before London Session) is best. Trade will run for 2-3 day or until target is reached. Whichever comes first.
Summary: EURCAD is in a strong down trade on the Higher time frame such as the monthly and Weekly. This is why this trade will be held for a short time due to it being a counter trend trade. We should see a bullish pull back towards 1.50000 area before price continues in the dominate bearish trend.