j.Hejazi | EURCAD waiting for breakout

FX:EURCAD   Euro / Canadian Dollar
The EURCAD currency pair has formed a triangle pattern with a divergence on the MACD indicator. This pattern also appears to show triple tops with another divergence. These patterns are located at a strong resistance area , as the price is touching the 200-week moving average and testing the key level of 1.46350. To consider a sell signal, the price must break the neckline of the triple tops and triangle.

However, if the price moves up and breaks the moving average, it must also break the 2 yearly resistance trend lines at 1.47313 to be considered a buy signal.

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