FxWirePro: EUR/CAD Trade Idea

EUR/CAD chart on Trading View used for analysis

FxWirePro Currency Strength Index for EUR/CAD: Bias Bullish
FxWirePro's Hourly EUR Spot Index was at 91.3478 (Bullish)
FxWirePro's Hourly CAD Spot Index was at -109.337 (Bearish)

Technical Analysis: Bias Bullish
- Shows decisive break above 200-DMA
- RSI and Stochs are nicely converging with price action
- Momentum studies are bullish, RSI is above 60 with room to run further
- Price has broken above 38.2% Fib

Support levels - 1.5289 (38.2% Fib), 1.5247 (200-DMA), 1.5227 (5-DMA)
Resistance levels - 1.5371 (Sept 6 high), 1.54, 1.5454 (50% Fib)

Recommendation: Good to go long on dips around 1.5330, SL: 1.5245, TP: 1.5370/ 1.54/ 1.5455

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