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Entry Condition: A break below the bear flag should see quick acceleration towards $9,100
- On breakout above bullish pennant, look for retest of 12,830
- RSI has currently broken above the consolidating downtrend
If it breaks to the upside, it can go up $20+ very quickly.
If it breaks to the downside, look to buy at support levels.
Bias is bullish.
Watch for the channel break for confirmation
EURCAD is currently retesting its breakout down from consolidation on the Daily.
Expect price to continue heading lower either here or at the down trendline.
Good entry points if price corrects:
Support 1 @ 1,474
Support 2 @ 1,447
Huge bearish momentum off the back of Hard-Brexit becoming more probable.
Expecting a fade higher off support, followed by another leg down.
Price is highly dependent on Brexit news.
USD weakness after Fed signals for July rate cut.