The Euro is getting a bounce after what the ECB has said (more stimulus, cutting rates further negative) was already priced into the markets.
We have a nice EURCAD set up which may even provide an entry for next week.
First of all, we had a fake out candle already. Price tried to break below the 1.4615 level, and reversed producing a large fake out wick. This is already a bullish sign.
Let us look at the market structure. We have been in a downtrend with multiple waves, and now we began to bottom at 1.4610 zone. We are ranging here.
I am awaiting a break and close above the 1.4705 zone. Possible to start a new uptrend. First take profit target at 1.4850.
We have a nice EURCAD set up which may even provide an entry for next week.
First of all, we had a fake out candle already. Price tried to break below the 1.4615 level, and reversed producing a large fake out wick. This is already a bullish sign.
Let us look at the market structure. We have been in a downtrend with multiple waves, and now we began to bottom at 1.4610 zone. We are ranging here.
I am awaiting a break and close above the 1.4705 zone. Possible to start a new uptrend. First take profit target at 1.4850.
