EURCAD formed a promising buy setup after breaking above the falling channel and finding support at a longer-term trendline earlier. The pair now trades close to a horizontal support level.
The pair fell significantly after the ECB press conference last week and bad news about the euro area may already be fully priced in. An important factor for the EURCAD pair may be future oil prices and the state of the US economy.
Like our analysis? Please hit the "Like" button and join our Free Telegram channel -> t.me/CommaFX