EURCAD can be stopped again from the old structure area
Technical Analysis: From the previous analysis, EURCAD has failed to break 1.4765. This zone was tested several times in the past and the price then decreased.
The price may decrease again from this area since we also have the ECB's rate decision on Thursday. It will be interesting to see how the market reacts ahead of the meeting.
A bullish move above 1.4765 would increase the chances of further upside.
The identified resistance zone looks solid, as the price has respected it multiple times in the past. I suspect the price is above the Ichimoku cloud, which is a good sign of bullish momentum coming into the market. Let's see how the price will react to the level as it approaches it.