EURCAD rallied into a key turncoat zone (former resistance → support)
Currently consolidating within this zone and showing clear RSI bearish divergence on both 1H and 4H timeframes.
Price is losing momentum while macro and seasonal factors align for a short bias.
🔍 Macro & Seasonality Confluence:
EUR Fundamentals: Worsening LEI, Endogenous & Exogenous scores
CAD Stability: Mildly bearish, but stronger than EUR
Seasonal Bias: EURCAD turns bearish after April 15
Currently consolidating within this zone and showing clear RSI bearish divergence on both 1H and 4H timeframes.
Price is losing momentum while macro and seasonal factors align for a short bias.
🔍 Macro & Seasonality Confluence:
EUR Fundamentals: Worsening LEI, Endogenous & Exogenous scores
CAD Stability: Mildly bearish, but stronger than EUR
Seasonal Bias: EURCAD turns bearish after April 15
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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.