EUR/CAD Should Bounce While Above W L5 Camarilla

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The EUR/CAD Might bounce from the POC zone as we see extremely oversold conditions and the W L5/Historical H4 zonal support.

Bullish rejection from 1.4705-15 targets upper levels, primarily 1.4760. Super-Dot ™ is a CAMMACD trademark signal where the indicator calculates overbought/oversold conditions based on different algorithms including the ATR. If bullish momentum persists, the target is 1.4760-70 zone. Breakout above should target 1.4860-74. However, we might need to wait for bigger volatility before the higher targets are achieved. However, the loss of 1.4670 will apply new bearish pressure.

The analysis has been done with the CAMMACD.MTF template.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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