Short

EURCAD - Weekly Forecast - Technical Analysis & Trading Ideas

💡 Daily Timeframe:

As forecasted by 4CastMachine AI, The Euro also reached our TP7 at 1.5777 by breaking the resistance at 1.5156.
The broken resistance area will serve as our new support area and Buy Zone.
As long as this area is not broken down, there is a possibility of a resumption of the uptrend.
If the price enters our new buy zone with a corrective wave and is rejected from it, we will enter with buy trades.

💡 H4 Timeframe:

The bearish wave is expected to continue as long as the price is below the strong resistance at 1.5857

💡 H1 Timeframe:

The uptrend is broken, and price is in an impulse wave.
1.5729 support is broken now. It will act as a Resistance now!

Forecast:

Correction wave toward the Sell Zone
Another Downward Impulse wave toward Lower TPs

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ForecastCity Support Team

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