💱 EURCAD - Retests as support breakout attempts
The currency pair is forming preconditions for a possible break of the trend support and an attempt to change it. The price forms consolidation near the support even after the level retest. there is no expected reaction - bounce from the level. Bears are trying to dominate
We are getting a chance to see a trend change.
But again, since a bullish trend is forming, there is a high chance of a bounce from support.
A fall is possible provided:
1) Breakout of the trend support and the level of 1.4868
2) Pre-breakout consolidation is formed
3) The market is not updating the highs, it is creeping closer to the support.
We are getting a chance to see a trend change.
But again, since a bullish trend is forming, there is a high chance of a bounce from support.
A fall is possible provided:
1) Breakout of the trend support and the level of 1.4868
2) Pre-breakout consolidation is formed
3) The market is not updating the highs, it is creeping closer to the support.
Trade closed: target reached
❤️ Telegram channel: t.me/AndeWave
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❤️ Telegram channel: t.me/AndeWave
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.