EURCAD H1 Chart: CAD CPI Ahead Bearish Continuation
EURCAD is retesting the broken support. CAD CPI will be released. A better than expected would accelerate the bearish move. At 1.49300 we have a bullish cypher pattern. We may see a minor retracement before the further drop.
Our Short Setup of Better Than Expected CAD CPI scenario.
Entry: Sell order 1.49700
Target 1: 1.49300 / Reached
Target 2: 148500
Divergence/ Convergence Confirmation: Not Yet – Will be updated.
Candle Pattern Confirmation: Nothing particular
Moving Average Confirmation: Below EMA 50
The trend of the Timeframe: Bearish
The trend in the Daily Chart: Bearish
Update: TP1 Reached. Book partial profit and move stop loss to entry.
Warning and Things to Pay Attention:
- Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
- Do not risk more than 2% in one trade setup.
- We usually book partial profit at the first target and move our stop loss to entry or break-even level. Use your own risk/profit management to exit the trade.
- We are publishing potential opportunities. There are no certainties and traders bets on possibilities. Read the setup carefully before entering a trade and take your own decision.
VERIFIED ACCOUNT AND SETUP RESULTS
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