EURCAD – Above 1.4010, longs in play

The EURCAD is still trading in a bullish condition on the long term charts. But, since it gaped earlier on the week, it has been trading on a short term range in between 1.4208 and 1.4010. Is this good or bad for us? I think it is really good, this way we know where we could look for our long opportunities, and you know where that level is: around the bottom of the range:

As long as the EURCAD trades above the ST support level (lower green line) I’ll be looking for long opportunities.

By the way, the next LT resistance level is at 1.4314

Trade Safe!

Raul Lopez
Forex Course

Tags:


Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .