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EURCAD BUY MOVEMENT
EURCAD BUY MOVEMENT
Starting in July 2020, the price has been falling in a descending channel, practically not going beyond it. In February, the price managed to break through the strong resistance line 1.543 during the fall. This line is one of the strongest on the chart - it was formed in August 2012. After the fall, the price moves to the support line - the lower border of the channel, and I expect that it will first touch this line at the point 1.520, and then outflow and rise to the resistance zone. Thus my final target is the resistance zone of 1.547.
Starting in July 2020, the price has been falling in a descending channel, practically not going beyond it. In February, the price managed to break through the strong resistance line 1.543 during the fall. This line is one of the strongest on the chart - it was formed in August 2012. After the fall, the price moves to the support line - the lower border of the channel, and I expect that it will first touch this line at the point 1.520, and then outflow and rise to the resistance zone. Thus my final target is the resistance zone of 1.547.
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