EURCAD: May Push Higher After The Breakout (Buy)

EURCAD: has been extremely bullish the past four days pushing above the resistance line since the start of June at 1.520. EURCAD had a clear bullish breakout above 1.470 level, currently trading at 1.486. The push in EURCAD is thanks to a boost in the confidence in the EUR. Lastly, it seems that a stronger push higher can be partly influence by the Euro-zone Q2 GDP growth of 2.1%.

Strategy: 

Plan A: Buy position at 1.486-1.487, Target Price 1.500, 1.520, Stop Loss at 147.500

Daily Chart

4 Hour Chart

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