EURCAD BULLISH TREND CONTINUATION

HI TRADERS HOPE YOU ARE DOING WELL. THIS A BULLISH TREND CONTINUATION SETUP FOR THE EURO CANADIAN DOLLAR.

FUNDAMENTAL BIAS:
.WHEN WE LOOK AT THE COMMITMENTS OF TRADERS REPORT THE INSTITUTIONS ARE SHORT ON CANADIAN DOLLAR & LONG ON EURO

TECHNICAL BIAS:
.THE PRICE MADE A FULL CYCLE OF 5 WAVES --> END OF THE BEARISH CYCLE

PRICE ENTRY ZONE:

.TWO DEMANDS ZONES LOCATED AT THE LOW OF THE SUPPLY AND DEMAND CURVE
.THE FIRST ZONE IS AT 61.8 FIBONACCI RETRACEMENT
.THE SECOND ZONE IS LOCATED AT THE BASE OF THE LAST BULLISH IMPULSE WAVE


WARNING:
.THE PRICE DIDN'T CREATED A HIGHER HIGH
.THE PRICE NEVER BROKE OUT OF HIS BEARISH CHANNEL
.PRICE ONLY RETRACED TO THE 50% RETRACEMENT FIBONACCI FROM LAST DAILY TIMEFRAME IMPULSE

THIS COULD BE A NICE SETUP, BUT IT WOULDN'T BE AN A+ SETUP. I WILL LIKELY WAIT FOR THE CREATION OF A HIGHER HIGH BEFORE TAKING THIS TRADE.

CORBEAU