EURCAD: Important Decision Ahead 🇪🇺🇨🇦

snapshot

EURCAD is currently testing a key level.

Based on a current market sentiment it is quite hard to say whether that structure will be broken or not.

For now, wait for the decision of the market participants:

  • To short wisely, wait for a bearish breakout of the underlined yellow structure (daily candle close below).
    Then short on a retest.

    After a breakout, chances will be high to see a bearish continuation all the way down to 1.45 level.

  • To buy wisely, follow a falling wedge pattern on 8h chart.
    Once its resistance is broken, it will be a strong bullish signal.
    A pullback will be expected to 1.49 level.


Be patient, and let the market decide.

Chart PatternsForexTechnical AnalysistradingTrend AnalysisWave Analysis

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