Here we see a possible cup and handle continuation on grounds that the 0.5 fibonacci retracement level holds as an entry point within the ABC channel correction and the cups support. Target will be 1.0.
However, if the 0.5 fibo level is pierced as a confirmed breakout we can presume a double top from the two peaks at the 1.0 level with the target being 0.00.
Essentially my bias is long from the 50.0 level but until then the bear run continues.
Good luck and follow me for more!
P.S, this time last year around March, EURCAD had a fantastic bull run; repeat?, maybe.
However, if the 0.5 fibo level is pierced as a confirmed breakout we can presume a double top from the two peaks at the 1.0 level with the target being 0.00.
Essentially my bias is long from the 50.0 level but until then the bear run continues.
Good luck and follow me for more!
P.S, this time last year around March, EURCAD had a fantastic bull run; repeat?, maybe.