EURCAD → Consolidation near resistance
EURCAD is trading in a formed bearish price channel.
An accumulation is forming on the chart which might try to break the trend, but on D1 MarketMaker is forming a trap
TA on a high timeframe:
1) Price does not reach the 1.4247 level and starts to reverse, there is a possibility that with increasing buyer activity, MarketMaker may reverse the market in the 1.44250-1.34700 area and direct it to 1.4242.
2) Above the 1.4400 area there is a large amount of liquidity that could be of interest to the market.
TA on the low timeframe:
1) Price is in a downward channel.
2) Resistance retest is forming.
3) If the bears hold this area, we will see a fall in the near future
4) But if the resistance is broken, our target is 1.45160
Key support: 1.43180
Key resistance: channel resistance
An accumulation is forming on the chart which might try to break the trend, but on D1 MarketMaker is forming a trap
TA on a high timeframe:
1) Price does not reach the 1.4247 level and starts to reverse, there is a possibility that with increasing buyer activity, MarketMaker may reverse the market in the 1.44250-1.34700 area and direct it to 1.4242.
2) Above the 1.4400 area there is a large amount of liquidity that could be of interest to the market.
TA on the low timeframe:
1) Price is in a downward channel.
2) Resistance retest is forming.
3) If the bears hold this area, we will see a fall in the near future
4) But if the resistance is broken, our target is 1.45160
Key support: 1.43180
Key resistance: channel resistance
All about GOLD🥇
Trading Tips💡
Secrets of🔑
Analysis📊
Forecasts🔔
FREE TELEGRAM:
🌹 Telegram channel: t.me/Go1dTech
😍 My contact: t.me/GoldTech
Trading Tips💡
Secrets of🔑
Analysis📊
Forecasts🔔
FREE TELEGRAM:
🌹 Telegram channel: t.me/Go1dTech
😍 My contact: t.me/GoldTech
Related publications
Disclaimer
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.