Today, we’ll analyze the EUR/CAD currency pair across multiple time frames. Let’s dive into the key technical insights for Monday’s trading session.
D1 Time Frame Analysis
On the Daily (D1) time frame forecast, we see that the market has broken a major support level. Following the breakout, the market took a retracement, as illustrated in the image below.
Additionally, the market has rejected its selling order block, signaling potential bearish momentum. The D1 time frame currently indicates a possible shift in structure, which we’ll monitor closely.
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| dailly timeframe |
H4 Time Frame Analysis
Switching to the H4 time frame, there is visible buy momentum in the market. However, this aligns with the D1 rejection from the order block, suggesting a potential setup for bearish continuation once the structure shifts.
To confirm a selling opportunity:
- Wait for a structural breakout in the H4 time frame.
- Ensure the market takes a retracement after the breakout.
- Look for a clear entry signal to initiate a short position.
The up zone highlighted in the image represents a key level to watch before committing to any trades.
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| H4 timeframe |
Key Trading Strategy
We will not enter sell trades until the market breaks its H4 structure. Once the structure shifts and the retracement completes, we can look for short positions in alignment with the overall trend.
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