Trading news

EUR.CAD – trend continuation in sight

Weekly chart:

The big picture led the last return movement precisely to the edge of the green correction zone. With all the news surrounding the ECB, the price shot right up, thereby showing a clear tendency toward continuing the trend. With a stop loss beneath the 1.36251 CAD, a long trade could be hazarded here.

Chart1

Daily chart:

Yesterday’s rise was able to overcome the downtrend. Nevertheless, the principle that a break in the trend does not necessarily have to lead to a new trend is definitely valid in this trend size. Patience is still required here, therefore, until a new uptrend has formed. For this, we need a correction and then a movement that leads above the current point two at 1.46509 CAD.

Chart2

Hourly chart:

The news dragged the price dramatically high, but the current correction is conducting a downtrend once more. In order to go back in the direction of the higher trend again, we need an uptrend here. So here, too, patience is also required.

Chart3

I hope you will remain favorably disposed towards me and always remember: the journey is the reward!

All the best

Markus Gabel

AgenaTrader/TradeEscort

AgenaTrader Trading Software

IMPORTANT NOTE: Exchange transactions are associated with significant risks. Those who trade on the financial and commodity markets must familiarize themselves with these risks. Possible analyses, techniques and methods presented here are not an invitation to trade on the financial and commodity markets. They serve only for illustration, further education, and information purposes, and do not constitute investment advice or personal recommendations in any way. They are intended only to facilitate the customer's investment decision, and do not replace the advice of an investor or specific investment advice. The customer trades completely at his or her own risk. Please refer to the current version of the Terms and Conditions.

Sunday, 06 Dec, 2015 / 10:11

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