EURCAD long Opportunity

22 thg 7

Uptrend : The EUR/CAD pair is in a strong uptrend, characterized by higher highs and higher lows.

Support and Resistance Levels : The pair has broken a key resistance level around 1.49561, which now acts as support. The next significant resistance is at 1.50450.

Moving Average : The current price is above the 200-period SMA, indicating long-term bullish momentum.

The position aims to capitalize on the continuation of the uptrend following the break of resistance at 1.49561.

The stop loss is placed below the recent support to minimize risk in case of a trend reversal.
The take profit is set at 1.50450, aligned with the next potential resistance zone.