EURCAD is trying to retest the low level and due to a range movement of 2 days, EURCAD closed at an entry price level

EURCAD Analysis

EURCAD is moving in a downtrend by forming lower highs and lower lows in the 4-hour timeframe chart.

EURCAD has reached the bottom (lower low) zone of the downtrend and trying to bounce back for correction movement.

After the confirmation of bounce back for the correction movement, EURCAD Buy signal is given.

But, EURCAD has moved up and down between the entry price ranges for more than 2 days, finally the trade has been closed at break-even due to lack of movement in the market.

As per our signal rules, If the market doesn’t reach target 1 within 2 days, we recommend our users to protect the trade by moving your stop loss or Take Profit to entry price for safe trading.

Due to this 2 days expiry rule, EURCAD has moved up and down between the entry price range for more than 2 days and it has closed at the entry price level.

At all the market conditions, We always want you to trade safe using our signal rules. please read it completely here: https://www.forexgdp.com/follow/

Canadian Dollar (CAD)

Canadian Dollar shows a good bullish path as Domestic data performed well.

Bank of Canada meeting scheduled this week, there may chance to taper its purchases and rate hikes at the end of 2021.

CAD Oil

US Dollar performed well after Vaccination hopes and Canadian Dollar rally for Oil prices. Consumer price growth of the US scheduled this week; the data will affect USDCAD prices more.

EURO

Euro currency shows weak movement against the US Dollar as Stronger US yields came.

EU Bank Meeting

And ECB meeting will be held on this week if any tapering of stimulus happened. will lead to dragging Euro prices down.

And also, ECB was not happy with higher Bonds yields; as they plan to reduce bonds yields rates by Reducing purchases.

Vaccination in EU

And still, Vaccinations are slow in progress in the Eurozone this will drag the Euro prices lower in a fundamental point of view.

However, In the technical view, EURCAD trying to bounce back for some correction movement.

Get Each trading signal with Chart Analysis and Reason for buying or selling the trade which helps you to Trade with confidence on your trading account.

Want to increase your profits in trading? Get the best trading signals at an accurate time. Try premium or supreme signals now: forexgdp.com/forex-signals/

 

FOREX GDP

Forex GDP team provides High Quality Forex signals services exclusively to all type of traders around the world. Each signal given with chart analysis that helps you to trade with confidence on your account. Forex GDP team worked with Major banks, Financial Institutions, Liquidity providers, Forex brokers in different job positions such as Equity Dealer, Fund Manager, Senior Market Analyst, Risk Manager and other major roles in Forex Trading Companies. Try free now to see the quality trades on your account.

FOREX GDP

Don't trade all time, trade forex only at best setup

X