EUR/CAD Levels to Choose From

February 24, 2017

A quick look at the currency crosses (featured in the types of forex currency pairs post in the forex education section) today, with a look at EUR/CAD.

First up on the daily chart you can see the higher time frame support zone that we currently have in play:

EUR/CAD Daily:
160224_eurcad_daily
Click on chart to see a larger view.

From here, if the higher time frame support level holds, we would zoom into an intraday chart to look for long entries.

So zooming into the hourly chart, it’s here we want to see any sort of retest of short term resistance turned support:

EUR/CAD Hourly:
160224_eurcad_hourly
Click on chart to see a larger view.

As you can see, there are plenty of different ways you could view this, but just remember that the whole idea of waiting for this confirmation is so you have a level to manage your risk around. Take your pick between the levels that we have, and place your stop loss accordingly within your own risk profile.

Enjoy your weekend!

Open a Vantage FX live account and trade your view.

Dane Williams – @VantageFX

Risk Disclosure: In addition to the website disclaimer below, the material on this page prepared by MT4 forex broker, Vantage FX Pty Ltd does not contain a record of our prices or solicitation to trade. All opinions, forex news, research, tools, prices or other information is provided as general market commentary and marketing communication – not as investment advice. Consequently, any person acting on it does so entirely at their own risk. The expert writers express their personal opinions and will not assume any responsibility whatsoever for the Forex account of the reader. We always aim for maximum accuracy and timeliness, and FX broker Vantage FX shall not be liable for any loss or damage, consequential or otherwise, which may arise from the use or reliance on this service and its content, inaccurate information or typos. No representation is being made that any results discussed within the report will be achieved, and past performance is not indicative of future performance.

Social

Free Daily Market Update

Live Spreads

SymbolBidAskSpread

Spread

Sign up to the latest forex news and daily FX trading setups