💱 EURCAD - Bullish trend pushes the price to 1.480

6 พ.ย. 2023

EURCAD is forming an uptrend. The euro is actively strengthening against the Canadian.
A consolidation in the format of a symmetrical triangle with a false breakout of support is forming on the chart. If the resistance is broken, the price will head towards 1.4710 and further towards 1.4800

Prerequisites for further growth:
1) Consolidation and false support breakout form a high bullish potential
2) Bullish trend. The price is consolidating above the support
3) The price exit from consolidation will form an impulse. Since the support breakout turned out to be false, the market is directed towards the resistance breakout

Key support: 1.4638
Key resistance: 1.4687, 1.4710