EURCAD - LONG is worth the risk!

EURCAD

This pair could potentially go to the upside. Here are my confirmations:

1. It created a new higher high.
2. It retraces at .618 fibonacci level.
3. It retraces at the strong support horizontal line
4. Created a bullish engulfing candle.

Further more, if you span it on a wider picture, it is actually a descending wedge on the weekly TF which is a strong indicator that the price might go to the upside.

RISK FILTERS:
1. Risk only 1% of your capital.
2. Never trade when there is an upcoming high-impact news release.
3. Never trade this pair together with EURAUD because they have similar price movements.