Possibly bulls will be waiting to push EURCAD higher if we see a dip lower towards the 1.4625 – 1.4525 area. Two possible bullish patterns trigger in this area. If EURCAD moves lower look for a possible bounce at the Blue BC 0.50% level or at the Red AB=CD 1.0%-1.236% zone. Buyers need to beware if price moves below 1.4445 so I would recommend placing stops at this level. A move below 1.4445 will invalidate Red bullish pattern and a move below 1.4379 will invalidate the Blue bullish pattern. Target 1 is at 1.4915 and Target 2 is at 1.5135.
*** Always use proper risk/money management according to your account size ***
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