Technical Overview of EUR CAD
The EUR CAD pair completed the formation of the positive harmonic butterfly pattern with a daily interval, where the correction of point D reached the maximum possible percentage of the BC leg at 261.8%.
Accordingly, it is possible to enter into buying positions from the potential reversal area (PRZ.2) from levels (1.4320: 1.4370) after the pair fell from the (PRZ.1) area, where the correction of point D of the BC leg at 161.8%, and then we target the level of 1.4620 as a target The first is at 38.2% correction of the CD leg, and with the breach we target 1.4790 as a second target at 61.8% correction, while closing below 1.4220 is a stop loss and failure of the pattern
The EUR CAD pair completed the formation of the positive harmonic butterfly pattern with a daily interval, where the correction of point D reached the maximum possible percentage of the BC leg at 261.8%.
Accordingly, it is possible to enter into buying positions from the potential reversal area (PRZ.2) from levels (1.4320: 1.4370) after the pair fell from the (PRZ.1) area, where the correction of point D of the BC leg at 161.8%, and then we target the level of 1.4620 as a target The first is at 38.2% correction of the CD leg, and with the breach we target 1.4790 as a second target at 61.8% correction, while closing below 1.4220 is a stop loss and failure of the pattern