Currently, EUR/CAD is trading at 1.5586. The pair is trading above the channel resistance level, It can move below resistance level to start a new down trend in the channel. So, accordingly plotted entry levels and target price. If the price breaks resistance level at 1.5531 inside the channel, then the price will enter into the downward channel and start a new down trend. Then its target price will be the support level of channel at 1.5350.
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
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Thank you,
Rishikesh Lilawat
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and Ideas.
Thank you,
Rishikesh Lilawat