EURCAD: Important Decision Ahead! Your Plan: 🇪🇺🇨🇦

8 juin 2022

EURCAD is trading in a long-term bearish trend.
The pair started to consolidate within a horizontal trading range on a daily from the beginning of April.
Now the price is approaching its support.

From a current perspective, I see two potential scenarios:

If the price breaks and closes below the support of the range on a daily,
then a bearish trend continuation will be expected to 1.325

The price may respect the underlined structure.
To catch a pullback from that, watch a falling trend line on a 4H time frame.
If the price breaks that to the upside, I will expect a bullish move at least to 1.35

Wait for a breakout and then follow the market.

What do you expect?

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9 juin 2022

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