Hi Traders! We have EURCAD bullish setup forming at the moment. A detailed analysis of this buy opportunity is as follows:
EURCAD H1 Chart:
On the H1 chart the price is moving inside a range, this range is formed by the highs and lows reaching similar resistance and support zones. The price which is respecting these two zones so far is currently nearing the top of this range. If we get a valid breakout here, we may then look for pullbacks and then possible buys with bullish evidences. Alternatively if we didn’t get a valid breakout here and if the price moves lower then the next area to look for possible buy setups would be the bottom of this range.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.
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