EUR/CAD About to Break the Range?
Good morning traders, today we bring you an analysis on this pair that has been showing a particular behavior for a long time.
🔸As we can see, for about a year that the price has been without a clear trend on the Daily Timeframe. Of course, if we decrease the timeframe, we will find minor trends, but after the strong bullish momentum, all we can see is a consolidation.
🔸At this moment, the price is against a support zone, and every time it faced it, it generated an upward movement, which is why we consider that possibility.
🔸In case that vision fails, we must take into account a possible downside breakout, which if this happens, the downward movement target would be the support zone at 1.51000.
🔸As we can see, for about a year that the price has been without a clear trend on the Daily Timeframe. Of course, if we decrease the timeframe, we will find minor trends, but after the strong bullish momentum, all we can see is a consolidation.
🔸At this moment, the price is against a support zone, and every time it faced it, it generated an upward movement, which is why we consider that possibility.
🔸In case that vision fails, we must take into account a possible downside breakout, which if this happens, the downward movement target would be the support zone at 1.51000.
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