💱 EURCAD - A change in the downtrend
EURCAD breaks the downtrend and forms an ascending triangle. Price is testing pattern support. The market expects a bounce
TA on a high timeframe:
1) Price stops after a strong drop (seen on the right chart). The stopping area is 1.45114.
2) But at the same time the price forms a sideways range and cannot yet break through the liquidity area (left chart)
TA on the low timeframe:
1) After breaking the downtrend, an uptrend triangle is forming.
2) If the bulls can push the price away from 1.45700 support, then we will have a chance to strengthen to 1.46298
3) Possible retest of 1.46298 resistance for a breakout. If the breakout is successful, then the price will head towards 1.46737
Key support is 1.45700, 1. 45190
Key resistance: 1.46300, 1.46736
TA on a high timeframe:
1) Price stops after a strong drop (seen on the right chart). The stopping area is 1.45114.
2) But at the same time the price forms a sideways range and cannot yet break through the liquidity area (left chart)
TA on the low timeframe:
1) After breaking the downtrend, an uptrend triangle is forming.
2) If the bulls can push the price away from 1.45700 support, then we will have a chance to strengthen to 1.46298
3) Possible retest of 1.46298 resistance for a breakout. If the breakout is successful, then the price will head towards 1.46737
Key support is 1.45700, 1. 45190
Key resistance: 1.46300, 1.46736
All about GOLD🥇
Trading Tips💡
Secrets of🔑
Analysis📊
Forecasts🔔
FREE TELEGRAM:
🌹 Telegram channel: t.me/Go1dTech
😍 My contact: t.me/GoldTech
Trading Tips💡
Secrets of🔑
Analysis📊
Forecasts🔔
FREE TELEGRAM:
🌹 Telegram channel: t.me/Go1dTech
😍 My contact: t.me/GoldTech
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.