The EUR/CAD pair has been respecting a parallel ascending channel, with price recently touching the upper boundary and now showing signs of a potential sharp reversal.
🔹 Key Technical Observations:
Price broke out of a long consolidation zone (early June), followed by a strong bullish impulse.
Currently rejecting the upper boundary of the parallel channel, suggesting bullish exhaustion.
Bearish projection aims for a potential drop toward the 1.55400 support zone, aligning with channel midline or lower boundary.
📊 Trade Idea:
Watch for confirmation of rejection (bearish engulfing / break of minor support).
Short entries can be considered on break below intraday structure.
Target Zone: 1.55400
Invalidation: Clean break and close above 1.58500
⚠ Always manage risk and confirm with your trading strategy.
🔹 Key Technical Observations:
Price broke out of a long consolidation zone (early June), followed by a strong bullish impulse.
Currently rejecting the upper boundary of the parallel channel, suggesting bullish exhaustion.
Bearish projection aims for a potential drop toward the 1.55400 support zone, aligning with channel midline or lower boundary.
📊 Trade Idea:
Watch for confirmation of rejection (bearish engulfing / break of minor support).
Short entries can be considered on break below intraday structure.
Target Zone: 1.55400
Invalidation: Clean break and close above 1.58500
⚠ Always manage risk and confirm with your trading strategy.
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t.me/Jamespipster
t.me/Jamespipster
📢Join my telegram channel daily free signals VIP group available daily signals 2/3 confirm join VIP group accuracy 85%
🔥Join Telegram Channel For Free
t.me/Jamespipster
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.
🔥Join Telegram Channel For Free
t.me/Jamespipster
📢Join my telegram channel daily free signals VIP group available daily signals 2/3 confirm join VIP group accuracy 85%
🔥Join Telegram Channel For Free
t.me/Jamespipster
t.me/Jamespipster
📢Join my telegram channel daily free signals VIP group available daily signals 2/3 confirm join VIP group accuracy 85%
🔥Join Telegram Channel For Free
t.me/Jamespipster
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.