Technical Analysis EUR/CAD - Buy Trade Setup (09-08-2016)

in #trading8 years ago

EUR/CAD is in uptrend by looking at the different time frame charts. From daily time frame chart, Price just crossed the 200 MA. This moving average works like a resistance and support line as well. So bouncing up and down and then again over 200 MA is an indication that Bulls are in control.


Stochastic indicator also crossed and heading upward in daily chart.


From 4 hour charts, Price is well over 200 MA. Stochastic is also indicating that price will go up. You can also see higher high and higher low. So looks like a good trading opportunity to buy EUR/CAD.


Conclusion :- Daily chart and 4 hour chart both are suggesting good Buy trade setup for EUR/CAD. I am going for a CALL trade for end of the day(23:00 GMT).

What you think it will go up or down? Please share your thought in comment.

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