EURCAD continues its global bullish trend. Locally, within the upward movement, we see a pause, but the nature of this pause is not aimed at a reversal, but at consolidation before growth.EURCAD, within the upward trend, is pausing before local resistance at 1.6052. A pre-breakout base is forming with fairly active and dynamic buyers. A breakout and consolidation of prices above resistance will trigger further growth.
Focus on consolidation at 1.6052 - 1.5977. The market is not updating local lows, volatility is decreasing (consolidation pattern) and the assault on resistance continues. Strong prerequisites for the movement to continue
Support levels: 1.6011, 1.5977
Resistance levels: 1.6052, 1.6118
A smooth approach to resistance, a breakout and consolidation above the key level (trigger) could trigger further growth within the global and local bullish trend.
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
🧿 Web: rlinda.com
🔴Contact: t.me/RLindaSignals
NO‼️
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
Related publications
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.