EURCAD: Important Breakout & Bullish Outlook Explained 🇪🇺🇨🇦

Long

Euro / Dollar Canadien (OANDA:EURCAD)

OANDA:EURCAD Euro / Dollar Canadien

parallelchannel rectangle volumestudies eurcad euro canadiandollar eur cad swing swingtrading swingtrade swingtrader

EURCAD was consolidating within a wide horizontal trading range on a daily for 3 months.
Its resistance was finally broken. The price closed above that on Friday, forming a high momentum
bullish candle.

I believe that the pair will go much higher now.
The next strong resistance - 1.489

Probabilities are high that it will be reached soon.

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