EURCAD: UNDERSTANDING WHAT REALLY MOVES THE PAIR

So what is your idea

EURCAD still trading at the upper boundary of the range, struggled to break back into the Range, the next phase is waiting for it to break below 1.60324 level and I will be convinced that the sells will work out

Price is just ranging and I hate it

Price is will definitely break below this time, that 1.60324 level will be taken out for sure

Price is will definitely break below this time, that 1.60324 level will be taken out for sure

I'm not still sure of that

Market conditions is changing, cad is largely supported by oil and that's what is helping it pressure EUR

Let's see if price will break out of the range

I have switched my timeframe view to 12hrs because I don't want much noise since it's an accumulation level, price is yet to break below 1.60324, which price has been accumulating for 3 weeks now In same level, that is the Reason i have switched to 12 hours so i will avoid noise and watch reliable levels

I have placed a sell limit on eurcad I noticed that when oil strengthen price will fall within the range and when it weakens price strengthen within that same range which shows that oil price supporting cad can push price downwards

Eurcad sell triggered, I am holding with 2k as SL if price invalidate I will wait and see how the week closes, then I will look for an entry by next week

Eurcad on profit already, that is my entry and my SL 2k , going for a 1:10RR, swinging it like euraud

Your POI was higher than mine.

EURCAD has stretched above your entry, but still consolidating around the poi, if it does not stretch to take out your SL first, then it will drive the sells during the day.

I got stopped out on EURCAD, oil is falling CAD is weak so I will wait and reassess the level of the breakout of internal range resistance holds and oil continue downwards I will change my bias to buys

I got stopped out on EURCAD, just checked this morning

I have picked 1.60463 level to 1.60657 level on eurcad as my reference level for buys continuation

Yeah that's a valid zone to watch out for buys

The best approach is just to wait for price to get to the box and give us a valid entry reasons at least no more ranging, there is a valid breakout to the upside

Eurcad is selling down to the box level, once it gets there and give a good entry Reason for for buys I will enter since there was a breakout to the upside