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Trader, analyst and instructor with a 6-year experience

Trading EUR/CAD with L.Vereshchagin

EURCAD technical analysis from 21.11.2013 by Leonid Vereshchagin

Chart 1. Daily EURCAD

The price is clearly moving in an uptrend. The pair is now testing the D1 trend line support. There is now an interesting chance to go short on the pair. 

The middle resistance zone 1.4160-1.4200 of a wider 1.3890-1.4430 range is cinfirmed, so we are planning to sell from here. See more details on the H4 chart.

 

Chart 2. H4 EURCAD

On the H4 chart the resistance 1.4160-1.4200 area is strengthened by the trend line. 

Trade signal

Sell:  1.4164

Stop Loss: 1.4265

Take Profit:  1.4050

Given the short-term character of the trade, we apply the (TP1) from the D1.

 

Chart 3. H1 EURCAD

Conclusion: Sell-signal confirmed.

 

Technical analysis by Leonid Vereshchagin

Independant  FX trader, coach and analyst

CAD
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