EURCAD Bullish Confluence on RSI Bullish Divergence and Support

There are multiple interesting things going on here on EURCAD from a techncial analysis perspective.

The price has hit this horizontal support zone three times earlier already, and all times resulted in a bullish continuation.

Furthermore, a Bullish RSI Divergence has formed, indicating a bullish continuation of the price.

Now that we achieved confluence through an RSI Bullish Divergence, and a fourth hit of this support zone, I will suggest a LONG position.

The price has immediately confirmed both the support zone and the RSI Divergence by printing a nice green candle on the 1h.

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- Trading Guru

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!

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