EURCAD remains very weak for more than 2 weeks: the pair is trading in a narrow horizontal range on a daily. Depending on the reaction of the price to the boundaries of the range, I see 2 potential scenarios.
Bullish: If the price breaks and closes above the upper boundary of the range - 1.4653 level, I will expect a bullish movement to 1.4725.
Bearish If the price violates the support of the range - 1.4486 and closes below that, a bearish continuation will be anticipated to 1.441.
Wait for a breakout, that will show us the future direction of the market.
Nice work. Very interesting. Definitely can see your reasoning behind your analysis. Thanks!
ProjectSyndicate
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high quality technical overview for position traders
JoeChampion
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Good idea!
TradingShot
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Fine work. When would be the best time to enter the market?
TradingBrokersView
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So far so good. Keep up the good work.
TheCryptagon
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Great entry point, thanks for the suggestion, we will surely look more into it.
InvestingScope
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Not the most common proposition based on the current market conditions. Generally, it is possible assuming all arguments work out, so thumbs up just for this!