EURCAD has currently approached resistance filling the previous candle Highs. How we plan on trading this pair is as follows. Should price reject from resistance and present bullish reversal patterns on the lower time frames such as the 4H or Daily time frame, we can anticipate a short term corrective move to the downside as indicated above. this zone correlates with the 38.2% fib area from current resistance. For long term trades, we look at bullish moves from the 38.2% area should it reject from the zone and provide bullish confirmation. However should price currently break Resistance then we will wait for a confirmation of support then look to continue the bullish momentum.
For more on how we use the candlesticks to forecast future price, check out this free Youtube content:
youtu.be/7Ai4Fm5VF9s
For more on how we use the candlesticks to forecast future price, check out this free Youtube content:
youtu.be/7Ai4Fm5VF9s