EUR/CAD Multi-Timeframe analysis

Hi Traders

EUR/CAD Multi-Timeframe analysis

H1 CHART ( Strong Up )

The market is approaching the support at 1.53258 . We are waiting to see reversal signals in order to reinstate LONG positions. Next important support is the 1.53039 level.

Support & Resistances
1.53258 1.53486
1.53039 1.53548
1.52678 1.53719

H4 CHART ( BEARISH )

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 ( NEUTRAL )

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