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EURCAD: Two Scenarios Explained



EURCAD is trading within a narrow consolidation area since the end of July.

Approaching its support, I see two potential scenarios for the pair:


Bearish

In case of a bearish breakout & daily candle close below the underlined horizontal support,

bearish continuation will be expected to 1.47 level


Bullish

To catch a pullback from the underlined support,

on focus is a falling channel on 1H chart.

Bullish breakout of its resistance will be your trigger to buy.

Goal will be 1.483


Wait for a trigger and follow the market!

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