EUR/CAD Our expectations: Rising trend, correction to diagonal and horizontal supports. Possibility for long positions with SL 1.5124
Alternative scenario: If the price cannot maintain positions above the supports and goes below them, we could seek short positions after test of the breakaway and a confirmation from a price action signal.
Commentary: Rising trend, correction to horizontal and diagonal supports. The level coincides with 200 SMA, which makes it even more important. At this level lays also 38.2% Fibo from the corrective movement. Price action signal of pin bar on support levels. For a more precise entry, we wait CCI 50 to cross above -100. CCI 14 is at -72 at the moment, so we wait CCI 50 to go above -100 and go long, when CCI 14 crosses 0.00.
SL: 1.5124
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