EURCAD has established a divergence and formed a double top at the resistance zone. Recently, the price broke through a long-standing supporting trendline, and the close below this trendline signals a bearish outlook. The price also bounced off the resistance area, triggering a bearish impulse move. I expect the market to continue moving downward toward the support level, retracing from the resistance to test the channel boundary. The target is the support level at 1.50650
Note
Price moved exactly as expected
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Website - rtedinvesting.com/
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
Free Telegram Channel - t.me/rtedinvestingofficialfreechannel
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.