In my daily analysis of the EUR/CAD pair, it's clear that we are currently on the verge of a significant bullish breakout. The Euro has reached the 1.49 Canadian Dollar level in the early hours, and it seems to be attempting to break above the short-term resistance we observed.
If successful, the market might head towards the next logical target, the 1.50 Canadian Dollar level. This is a big, round, and psychologically significant figure, likely to attract attention due to options markets and the general appeal of large, round numbers.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.