EURCAD: Buy settup

2023년 5월 3일

Hello, as we can see, from a daily perspective EURCAD is in an uptrend, where the price broke above the daily resistance level and then made a corrective move to retest 0.5% Fibonacci retracement around 1.48500, then make another impulsive move to the upside.
In 1h, the price was moving in a falling wedge pattern before it broke out of the wedge and closed above the daily resistance level.
My bias is bullish, so I wait for the price to retest the daily support around 1.14700 before it can take off to the 1.5100 regions.