EURCAD: Buy opportunity on the HL trendline and 4H MA200.
EURCAD nearly touched the two month HL trendline and the 4H MA200 today. With the 4H technical outlook on the red (RSI = 33.840, MACD = 09.994, ADX = 36.630) this is a strong buy opportunity on a one month time frame. The RSI getting oversold and rebounding, is following the path of the February 10th Low which rose slowly to nearly the 1.382 Fibonacci extension. We are buying, TP = 1.050500.
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