#EURCAD:
(1D):
Last swing low confirmed that the triangle was actually a falling wedge, which converged with the 200 EMA, still confirming the overall uptrend.
Here fundamental role plays around OIL prices. With Biden victory, we might see covid restrictions implemented, with a decrease of transports. This would mean falling oil prices (currently downtrending).
(4H):
Last price action is very choppy right above the wedge bottom. However, the price started making HH and HL so the bullish structure is confirmed.
(1H):
Following the higher timeframe structure, we are waiting for a clear bullish continuation pattern before going long.
(1D):
Last swing low confirmed that the triangle was actually a falling wedge, which converged with the 200 EMA, still confirming the overall uptrend.
Here fundamental role plays around OIL prices. With Biden victory, we might see covid restrictions implemented, with a decrease of transports. This would mean falling oil prices (currently downtrending).
(4H):
Last price action is very choppy right above the wedge bottom. However, the price started making HH and HL so the bullish structure is confirmed.
(1H):
Following the higher timeframe structure, we are waiting for a clear bullish continuation pattern before going long.