EURCAD is forming a correction to the support zone against the backdrop of temporary stagnation of the euro, which is the previous extreme from July 1...EURCAD is forming a countertrend correction within the global bullish trend. The euro is gradually rising amid the fall of the dollar. The Canadian dollar is consolidating below strong medium-term resistance and may continue its decline, which will only support the bullish trend in EURCAD
Technically, the price is entering a liquidity zone, with a point of interest at 1.61 - 1.609, locally at 1.61225, where the upward support line also passes...
Support levels: 1.6122, 1.6100
Resistance levels: 1.618, 1.625
The main focus is on the specified support zones. If, after a false breakdown of the point of interest, the bulls are able to keep the price above the support zone, then in this case we can expect a possible continuation of the trend. Otherwise, the local trend may be broken and the market will go into a deep correction...
Best regards, R. Linda!
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🌹TRADING is a CASINO💔!?
NO‼️
Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
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Join me, I'll guide you to PROFITABLE TRADING💵!
(don't copy, click on the links!)
🟢Telegram Channel: t.me/RLindaTrade
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
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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.