FxWirePro: EUR/CAD Trade Idea

EUR/CAD chart on Trading View used for analysis

FxWirePro Currency Strength Index for EUR/CAD: Bias Bearish
FxWirePro's Hourly EUR Spot Index was at 113.327 (Bullish)
FxWirePro's Hourly CAD Spot Index was at -140.73 (Bearish)

Technical Analysis: Bias Bullish
- Breaks above daily cloud
- Momentum studies are bullish
- RSI above 60, bias higher
- Volatility rising, Bollinger Bands are widening

Support levels - 1.51 (110-EMA), 1.5057 (5-DMA), 1.5004 (20-DMA), 1.4847 (Nov 12 low)
Resistance levels - 1.52, 1.5310 (200-DMA)

Recommendation: Good to go long on dips around 1.5140, SL: 1.5050, TP: 1.52/ 1.53

For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.