EURCAD - Bounce Play at the Rail!EURCAD has been respecting its ascending channel beautifully , bouncing between the rails like clockwork. And right now, price is once again retesting the lower trendline, where buyers have consistently stepped in before launching new bullish waves.
🏹As long as this trendline and minor support around 1.62 hold firm, I’ll be watching closely for bullish rejections or reversal patterns to confirm a fresh leg upward. A clean bounce from here could send price back toward the orange structure zone around 1.6350, followed by a potential push toward 1.64+ if momentum builds up.
⚔️However, a break and close below 1.6180 would invalidate the setup and could shift control back to the bears — but until that happens, the path of least resistance remains to the upside.
In short, I’m expecting EURCAD to trap late sellers and fuel another rebound from the channel’s base, the kind of move that rewards patience and precision.
📊 All Strategies Are Good; If Managed Properly!
~Richard Nasr
