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EURCAD took advantage of the weakness in the Canadian dollar

  • Aug 03 2021
  • by
  • Analyst AZA
EURCAD took advantage of the weakness in the Canadian dollar

EURCAD took advantage of the weakness in the Canadian dollar

The Canadian dollar was weaker today than most currencies in the forex market. This can be seen if you open the charts of other currency pairs that are traded together with the Canadian dollar. In this case, the price movement was in an upward trend and the price was able to overcome the nearest support levels. Also, an important factor for an opening order is that the price has a 70 pips move reserve to the flat level of 1.5000. Thus, we will wait for a new wave and open order if the level of 1.4930 is broken.

Symbol: EURCAD
Order Type: Pending Order - Buy Stop
Entry Price at 1.4930
Take Profit at 1.5000
Pips Earning: 70

Forex trade strategy and trading signals for major currency pairs:
EURUSD sell at the price of 1.1860
USDJPY sell at the price of 108.85
GBPUSD buy at the price of 1.3940
USDCHF
sell at the price of 0.9020

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The profit can be $551.18 if the trading volume of 100000 EUR (1 Lot).

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