The EURCAD is in a capital up ABCD swing on the Daily chart. The Daily has also come from resistance and hit the 382 of the up ABCD. In the same the down ABCD completed the Fibonacci swing for perfect convergence. A morning star has formed on the up trend line and I am looking to buy the test of the bullish formation with the appropriate stop. This is a multiple swing trade on smaller time frames.
I have already started to buy this with the two Sub ABCD’s already completed for profit. I am on the third swing and looking to participate again with the appropriate trade plan going after a target a few pips before the D.
I am managing this trade as well so I will watch for this to be completed by the end of next week. Below are the time’s and fundamental events that will expedite the move of the EURCAD.