The Currency Pair is trading near the support zone, there is a buying opportunity in the currency pair at the support zone we have seen a engulfing pattern. An Engulfing Pattern is a Reversal Pattern. The success ratio of this candlestick pattern at extremely lower levels is better than the support zone or resistance zone. In our scenario the pair is trading at its lower support zone from where previously the pair moved upside.

The RSI is trading below 20, a great opportunity to act towards it.

The lagging Indicator in the Ichimoku closes above its peak and close above it we will get another confirmation.

The DMI is yet to show the strength for the buying side.

Advice : Buy if the pair closes above the engulfing.

EUR/CAD

Nov 02 2021