160
Currency Analyst since 2010

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

EUR
Scroll to top