EURCAD is currently in a pronounced downtrend. Following a test of a key support level on the 4-hour chart, a small inverted head and shoulders pattern has emerged on the 1-hour timeframe.
To consider going long on the pair, watch for a head and shoulders pattern on the 1-hour chart and wait for a breakout above the neckline at 1.4946 to confirm buyer strength.
If this occurs, a bullish movement towards the 1.5000 support level can be anticipated.
To consider going long on the pair, watch for a head and shoulders pattern on the 1-hour chart and wait for a breakout above the neckline at 1.4946 to confirm buyer strength.
If this occurs, a bullish movement towards the 1.5000 support level can be anticipated.
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Disclaimer
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