The EUR/CAD currency pair seems to be giving out bullish signals across the board, in particular on the 4hr time frame. Ascending trendline support and 23.6 fib level at (1) taken from the recent July ‘20 highs and the September lows provided a good buying opportunity for the short to mid-term. Further confirmation came about as the pair cleared the 200 period moving average early on during today’s European session, whilst also breaking out of it short term falling wedge pattern. The MACD indicator also appears to be at the early stages of crossing into positive territory. Short and long term sentiment for this pair amongst small participants is skewed slightly to the bearish side.
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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.