EURCAD More Upside, Watch For Buy

Hello traders:

Looking at EURCAD's overall price action, there could be more opportunity for upside.

From the higher time frame, we can see price has hit a previous swing lows, and started to slow down and consolidate.
This could lead to a potential double bottoms for upside reversal.

On the mid time frame, we can see a clear descending structure correcting the price, and within, another descending channel.

Together, with the lower time frame double bottom, and strong bullish impulse that breaks out of the reversal correction, good sign of bullish momentum.

Be on the lookout for continuation correction price action on the lower time frame to confirm the upside move.

thank you

Komentarz: