EURCAD: Two Scenarios Explained 🇪🇺🇨🇦
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EURCAD is trading within a narrow consolidation area since the end of July.
Approaching its support, I see two potential scenarios for the pair:
- Bearish
In case of a bearish breakout & daily candle close below the underlined horizontal support,
bearish continuation will be expected to 1.47 level - Bullish
To catch a pullback from the underlined support,
on focus is a falling channel on 1H chart.
Bullish breakout of its resistance will be your trigger to buy.
Goal will be 1.483
Wait for a trigger and follow the market!
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