EURCAD Bounced Off Support, Prepare For A Further Rise
100
Buy above 1.5085. Stop loss at 1.5008. Take profit at 1.5211. Reason for the trading strategy (technically): EURCAD bounced nicely off its support at 1.5085 (100% & 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.5211 (50% Fibonacci retracement, horizontal overlap resistance). Stochastic (55, 5, 3) is bounced off its support at 2.38% where a corresponding rise could occur.