Here, we have a DOWNTREND already. There's a break of The yellowish horizontal line representing a low since Feb 2020. There's been a break and retest of the horizontal level with a double tap (representing a double confirmation), so I see a downtrend.
I'll love to see Price bounce off that support level and either obey it to trend back towards the downtrend line,or break below the support level and continue downwards to the next significant Horizontal level.
Price has broken out of the uptrend line, and has formed a new downtrend.A channel has been formed for the downtrend, and at the current position, price could maintain the support and touch the trend line, before climbing back down to respect the channel OR break the support and trend downwards.
A lot of confluence on this one. There's a break of the previous downtrend line, and it has been retested at the horizontal level and the new uptrend line. I want to see a second tap on the resistance zone before falling back down to the uptrend line to continue the channel.
Buy already activated on this one here.
I'm looking for a SELL on EURCAD down to the previous level.