EURCAD - TIME FOR A BULLISH RUN?

10 thg 10, 2021

We've seen EURCAD decline for a couple of weeks now, plummeting over 500 pips from 1.5 (LQP). At recent, the market is approaching a demand zone around 1.44. The pair is still within Bearish market conditions i.e from the 4H time-frame the market structure is bearish. A shift in MS from Bearish to bullish around the target zone will trigger a bullish run. We should see the market retrace to either the 50.0% or 61.8% (Golden ratio) Fibonacci retracement level on the impulse run.

Swing Trade with an insane risk:reward ratio.
TP1 @1.4500 and TP2 @ 1.750
SL max 50pips below entry level.

Happy Trading Week!!
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