EUR/CAD High timeframe situation.
Very interesting scenario in our current market.
EUR/CAD is currently headed down again to a very stable support that started September last year. Since this support is well respected by this pair, we can expect a bounce from this support and continue the bullish channel and trend. What makes this support very interesting is that it aligns with the 200 EMA which has been a great indicator for me to identify trends, supports or resistances. However, if we break this support, the next solid support is indicated in this analysis, as well as the resistance TP for long positions.
EUR/CAD is currently headed down again to a very stable support that started September last year. Since this support is well respected by this pair, we can expect a bounce from this support and continue the bullish channel and trend. What makes this support very interesting is that it aligns with the 200 EMA which has been a great indicator for me to identify trends, supports or resistances. However, if we break this support, the next solid support is indicated in this analysis, as well as the resistance TP for long positions.
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