EURCAD breaks the downtrend and forms an ascending triangle. Price is testing pattern support. The market expects a bounce
TA on a high timeframe: 1) Price stops after a strong drop (seen on the right chart). The stopping area is 1.45114. 2) But at the same time the price forms a sideways range and cannot yet break through the liquidity area (left chart)
TA on the low timeframe: 1) After breaking the downtrend, an uptrend triangle is forming. 2) If the bulls can push the price away from 1.45700 support, then we will have a chance to strengthen to 1.46298 3) Possible retest of 1.46298 resistance for a breakout. If the breakout is successful, then the price will head towards 1.46737
Key support is 1.45700, 1. 45190 Key resistance: 1.46300, 1.46736