Short term trend: Bullish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.4372
Kijun-Sen level: 1.4292
Ichimoku cloud top: 1.4072
Ichimoku cloud bottom: 1.4112
EUR/CAD has slightly retreated after making high of 1.4435. Overall trend is bullish as long as support 1.4265 holds.
On the downside break below will target 1.4170/1.4080 in short term. The pair’s minor resistance is around 1.4435 and any indicative break would extend gain to 1.4500.
Indicators
Ichimoku (9, 26, 52, 26) – Buy
MACD (12.26.9) – Buy
Recommendation: Buy EUR/CAD around 1.4325, SL 1.4265, Target 1.4500.
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.4372
Kijun-Sen level: 1.4292
Ichimoku cloud top: 1.4072
Ichimoku cloud bottom: 1.4112
EUR/CAD has slightly retreated after making high of 1.4435. Overall trend is bullish as long as support 1.4265 holds.
On the downside break below will target 1.4170/1.4080 in short term. The pair’s minor resistance is around 1.4435 and any indicative break would extend gain to 1.4500.
Indicators
Ichimoku (9, 26, 52, 26) – Buy
MACD (12.26.9) – Buy
Recommendation: Buy EUR/CAD around 1.4325, SL 1.4265, Target 1.4500.