EUR/CAD Monthly Standpoint
Can we anticipate a long term short? As we can see, the leg down to the left of the chart broke all existing forms of support from years prior. Price then retraced and made a break below, close below, under the last LL. Now price is climbing up. We can see already see strong rejection of 1.55-1.60 levels to the right indicated by long wicks. Price will continue up if we can close above those wicks, or will climb just to the 1.55-1.60 handle and make a long-term drop the downside. Only time will tell.
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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.