1,6155. EUR CAD is in a consolidation after the last bullish movement. There is an horizontal range between 1,6135 and 1,6170. Support and resistance are given by Bollinger bands. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. The uptrend should continue to gather momentum.
=> We could take a long position at 1,6150. We will put the stop loss below 1,6110 (-40 pips). The targets are 1,6200 (+50 pips) 1,6300 (+150 pips).
Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following):
3.
- Resistances
- 1,6170 - 1,6200
- Supports
- 1,6150 - 1,6110
