EUR/CAD with L.Vereshchagin (Jan. 24)
Technical analysis EURCAD, January 24
Chart. Daily EUR/CAD
There’s confident growth on the daily chart. The pair’s rising for the 10th month in a row without any sizeable corrections. Still at D1 we can see 3 accelerations (changes in the angle of a trend). The latest acceleration may be seen at H4.
Chart. H4 EUR/CAD
General idea is that the powerful acceleration will continue.
Trade signal: Buy around 1.5120
Stop Loss: 1.50000
Take Profit: 1.5350
The current situation allows Buy with SL/TP = 1/1. If that doesn’t go against your money management system, the trade will be good. We don’t rule out a lower dip, closer to 1.5070.
Chart. H1 EUR/CAD
There’s a small corrective wave at H1 which may continue to 1.5070.
Conclusion: Buy-signal is confirmed
Technical analysis by Leonid Vereshchagin
Independant FX trader, coach and analyst