Breakout Patterns PremiumClosed TradesCompleted Breakout PatternsCurrenciesCurrencies PremiumFX MINORS Trade Ideas PremiumHamonic Cypher PatternIntraday Forex SignalsPremiumTrade Setups

EURCAD H1 Chart: CAD CPI Ahead Bearish Continuation

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.

Trade: Short

Entry: Sell order 1.49700

Stop: 1.5000

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:

  1. Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
  2. Do not risk more than 2% in one trade setup.
  3. 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.
  4. 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.



Subscribe to our premium packages if you would like to get 1000+ instruments analysis and trade signals of Chartreadreadepro.


Discord Channel

You can contact us via Skype User Name: Chartreaderpro

DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

GBPJPY: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility


Show More

Related Articles

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.