💱 EURCAD - Retests as support breakout attempts
Updated
The currency pair is forming preconditions for a possible break of the trend support and an attempt to change it. The price forms consolidation near the support even after the level retest. there is no expected reaction - bounce from the level. Bears are trying to dominate
We are getting a chance to see a trend change.
But again, since a bullish trend is forming, there is a high chance of a bounce from support.
A fall is possible provided:
1) Breakout of the trend support and the level of 1.4868
2) Pre-breakout consolidation is formed
3) The market is not updating the highs, it is creeping closer to the support.
We are getting a chance to see a trend change.
But again, since a bullish trend is forming, there is a high chance of a bounce from support.
A fall is possible provided:
1) Breakout of the trend support and the level of 1.4868
2) Pre-breakout consolidation is formed
3) The market is not updating the highs, it is creeping closer to the support.
Trade closed: target reached
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