EUR/CAD on a Decisive Area + Potential Setups
Good morning traders! Today we will analyze EUR/CAD, as it is bouncing in a critical zone, and it is worth analyzing it since we can take advantage of both the bullish and the bearish situation.
🔸As we see in the published chart, the price bounces off the Ascending Trendline, where several rejections have already been rejected. We can expect a similar situation again.
🔸As the scenario is still unclear, it is worth considering both the bullish and the bearish possibilities.
🔸The bullish situation implies a movement in this direction towards the Resistance zone and, the bearish situation implies a break of the trend line and the support zone. If that happens, we are likely to see the price move towards the next support zone.
🔸To better detail the previous situations, we are going to reduce the timeframe:
Bullish Analysis:
- What we are looking for here is a break in the Descending Trendline and the Resistance zone. After that, the idea is to wait for a re-test of the broken area and its subsequent rejection.
Bearish Analyis:
- Finally, considering a bearish scenario, we would wait for support + retest, + rejection.
🔸As we see in the published chart, the price bounces off the Ascending Trendline, where several rejections have already been rejected. We can expect a similar situation again.
🔸As the scenario is still unclear, it is worth considering both the bullish and the bearish possibilities.
🔸The bullish situation implies a movement in this direction towards the Resistance zone and, the bearish situation implies a break of the trend line and the support zone. If that happens, we are likely to see the price move towards the next support zone.
🔸To better detail the previous situations, we are going to reduce the timeframe:
Bullish Analysis:
- What we are looking for here is a break in the Descending Trendline and the Resistance zone. After that, the idea is to wait for a re-test of the broken area and its subsequent rejection.
Bearish Analyis:
- Finally, considering a bearish scenario, we would wait for support + retest, + rejection.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.