EUR/CAD Multi-Timeframe analysis (Update)

Hi Traders

EUR/CAD Multi-Timeframe analysis (Update)

H1 CHART ( Bullish )

A medium probability, entry signal to go LONG was given at 1.53623 after the market found support at 1.53317 . Only the downward break of 1.53317 would cancel the bullish scenario.

Support & Resistances
1.53328 1.53548
1.53030 1.53735
1.52898 1.53975

H4 CHART ( Neutral )

Conflicting technical signals are indicating towards an unstable market, cautioning us to remain neutral and wait for a stronger trend to develop.

Support & Resistances
1.53124 1.53498
1.52619 1.53782
1.52092 1.54414

DAILY CHART ( Strong Down )

Waiting for a retracement higher towards the 1.52666 resistance level in order to reinstate SHORT positions. Next important resistance is the 1.54016 level.

Support & Resistances
1.52660 1.52666
1.50744 1.54016
1.47486 1.55924

WEEKLY CHART ( NEUTRAL )

The market is dominated by uncertainty. The occasionally prevailing trend lasts for a limited time and changes its direction too frequently. As long as the market remains unstable, we stay aside, waiting for the market to get back on track.

Support & Resistances
1.52666 1.59912
1.50518 1.62060
1.47707 1.64871