EURCAD Reversal Price Action In the Making

7 kwi 2022

Hello traders:

Also caught my attention is EURCAD for possible bullish reversal development.

From the HTFs, we can see price has managed to move down to a previous lows, but within a descending correctional structure.


This alone is usually not enough confirmation of possible reversal yet, hence we go down to the LTFs to see if theres further development.

We can see now within the HTF descending channel, there is also a smaller, LTF descending channel as well. Good to have extra confluences stack on top.

Now we just need to wait and see, if price can impulse out of the correction, and form further continuation corrections to confirm further upside move from the price.

thank you