EURCAD: Buy Opportunity from Support Zone

2020-01-09 23:00:24

In spite of the false buy signal based on a chart reversal pattern from the 1H, the daily chart tells us about the upward movement. The price is going to bounce from the support zone between 1.44500 and 1.44100 levels. RSI and MACD will confirm this reversal. DMI does not support the further downward movement. If so, we have reasons to buy. But don't forget that all trades must have stop orders. The daily chart does not look so interesting for buying, as we don't have enough space. But lower timeframes will be able to solve this problem and provide really interesting trades.