Looking at the 2H chart, we can see that EUR/CAD is hovering around a very critical weekly zone (1.2988) inside a descending formation which is known to be a reversal pattern if broken. If the price doesn't manage to break below the 1.2989 zone, I expect a reversal towards retesting previous levels such as 1.3087, 1.32024, and 1.32712 as our targets for this trade.
Focus first on reaching 1.3087. If the price manages to break above it, then look for the remaining targets. Lastly, if the price breaks above 1.32712, this means that we may see a short to medium-term bullish cycle for EUR/CAD towards retesting previous levels. Goodluck!
M.Y.
Focus first on reaching 1.3087. If the price manages to break above it, then look for the remaining targets. Lastly, if the price breaks above 1.32712, this means that we may see a short to medium-term bullish cycle for EUR/CAD towards retesting previous levels. Goodluck!
M.Y.