Vladimir Ribakov analyzes EUR/CAD on June 4, 2020, identifying a strong support zone at 1.70 with bullish MACD and RSI divergences on the four-hour chart. He sees an ABCD correction pattern setting up for a second upward wave, with both four-hour and one-hour candles turning bullish.
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Hey guys, how are you? Vladimir Ribakov here from Traders Academy Club, and this video is a day trading idea. And today we are on 4th of June 2020. I hope you are well and safe. And to all those of you who watch us for the first time, I would like first of all to welcome you to our community. And to invite you to subscribe to the channel, just follow the subscribe button below this video. And remember, enable the notifications button as well. I would like to invite you to join our trading club and to join our free Telegram channels. Both links could be found below this video in the description or in the pinned comment inside the comment section. Today on the list is the Euro CAD. Which I find very, very interesting. And here is why. The pair is holding a massive supportive zone around the psychological round number of 170. This zone been retested several times, and as we can see, could not, as for now at least, be broken. The bullish divergence is there as well, and we can see the MACD also losing momentum every time It reaches the bottoms. Watching on a four-hour chart, we are holding here pretty much classically on this level as well, confirming a bullish divergence on the MACD and the RSI. The next thing we are paying attention to here is the very interesting waving momentum here. The first waves, then ABCD correction and the breakout. To the upside, which from my point of view is now due to develop the second wave. So the way I see this pair is little pullbacks should deliver further rally upside as long as this trend line would hold. These pullbacks from my point of view could deliver some continuing bullish momentum that will Potentially take the price higher. Let me know what do you think about this pair, and if you like the idea or generally these videos, please hit the like button, drop some feedback below. Your support, my motivation, keep uploading this video for you on daily basis. And also let me know how do you see the EuroCAD bullish, bearish, where to, where from. Share share your view with others, and thank you very much in advance for your help. Now also very interesting thing to pay attention to on the EuroCAD is this: looking at the SRS candles which gain momentum, look what starts to happen right now. The four-hour chart switches and gaining momentum, which at the end of the candle, assuming there will be no changes. On the trend, this candle is bullish. The one-hour chart candles are already bullish, and the wavings, as I showed before, are already there. And the best part here is look what happens. We are gaining impulsive waves, and each of the waves becomes stronger and stronger and developing faster. And look at the SRS candles starting from. Let me just show you here. Starting from few after the downtrend, we increased more in the second leg. And as for now, already as this leg started after the break of this trend line, uh, you can see already more blue candles come into play. Normally this is a very positive sign. For the instrument that is analyzed. So the way I see that again is bullish. Let me know what do you think about it. Yesterday I shared with you the idea about the silver. If you missed the silver video, right now on the right top corner of this video you would be able to find a direct link to watch it there. And the last thing which I would like to let you know about due to the situation and the summertime and challenging period that so many traders go through, we launched a special offer, special promotion for the summer period. This could be found right here in my blog or right now on the right top corner of this video you will see direct link to this offer. It will take you directly to the blog and this post. Basically, the idea is very simple. You can get 1+1 on any of these projects: 1 year full access to my club, Forex BBB SRS Pro with the new version— we just released the new version 3.2— and/or the Forex Delta. 1+1 on any of these projects. More information about how to enjoy from that could be found directly in this link. So again, I hope you find this useful, and thank you very much for your time watching this video. I wish you a wonderful day and happy weekend to come. I'll see you next week with more ideas.
