EUR/CAD recently experienced a high and has since broken structure to the downside, indicating a potential shift in momentum.
If a 1H candle closes above 1.59870, we could see bullish momentum push the price higher. In this case, price may test resistance near 1.6000, and potentially aim for 1.6100.
If price fails to close above 1.6000, or rejects from that level, this confirms bearish pressure. Expect price to test downside targets at 1.58502 and possibly 1.57540.
If you like this idea, if you have any feedback about it, please share it in the comments. We need your support.
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Conclusion:
Watch the 1H close around 1.59870 closely. A close above this level could suggest a short-term bullish move. However, failure to sustain above 1.6000 reinforces the bearish trend, favouring a move lower toward key support levels.
Let me know if you want this visualized on a chart or need a trading plan based on these scenarios.
If a 1H candle closes above 1.59870, we could see bullish momentum push the price higher. In this case, price may test resistance near 1.6000, and potentially aim for 1.6100.
If price fails to close above 1.6000, or rejects from that level, this confirms bearish pressure. Expect price to test downside targets at 1.58502 and possibly 1.57540.
If you like this idea, if you have any feedback about it, please share it in the comments. We need your support.
---
Conclusion:
Watch the 1H close around 1.59870 closely. A close above this level could suggest a short-term bullish move. However, failure to sustain above 1.6000 reinforces the bearish trend, favouring a move lower toward key support levels.
Let me know if you want this visualized on a chart or need a trading plan based on these scenarios.
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✅My Free Signals
t.me/addlist/UkeZgBhHMpowODA0
✅Join my Telegram Channel
t.me/Trade_With_Kb1
t.me/addlist/UkeZgBhHMpowODA0
✅Join my Telegram Channel
t.me/Trade_With_Kb1
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.