EURCAD is setting up to go long nicely, retraced upto 0.5 Fib level. It seems a high probable trade which scoring following 7 points.
1. Higher High & Higher Low
2. Above 50 & 200 EMAs
3. Horizontal Support (1.34 Level)
4. RSI Convergence
5. Bullish Price Action (High Test)
6. No Resistance in the Way
7. FiB Retracement Level (Support at 0.5 Retracement Level)
There is no hard level in the way apart from a soft level of 1.3523 (previous high), which looking at it conservatively still makes makes it a 1.7:1. Assuming a profit potential till 1.3610 makes it nearly a 3:1.
