Hey guys! sorry was inactive the past week. Got really busy with personal matters but now I am back! And here is my analysis for EURCAD.
On the 4H chart, we can see the ccy pair trading in an uptrend channel but seems to have hit a strong resistance.
This resistance has been retested many times now and failed to close above.
Hence, my guess is that price will be rejected from there and reverse to a downtrend. We can aim for the channel's support.
On the 4H chart, we can see the ccy pair trading in an uptrend channel but seems to have hit a strong resistance.
This resistance has been retested many times now and failed to close above.
Hence, my guess is that price will be rejected from there and reverse to a downtrend. We can aim for the channel's support.
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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.