EURCAD → Consolidation near resistance
EURCAD is trading in a formed bearish price channel.
An accumulation is forming on the chart which might try to break the trend, but on D1 MarketMaker is forming a trap
TA on a high timeframe:
1) Price does not reach the 1.4247 level and starts to reverse, there is a possibility that with increasing buyer activity, MarketMaker may reverse the market in the 1.44250-1.34700 area and direct it to 1.4242.
2) Above the 1.4400 area there is a large amount of liquidity that could be of interest to the market.
TA on the low timeframe:
1) Price is in a downward channel.
2) Resistance retest is forming.
3) If the bears hold this area, we will see a fall in the near future
4) But if the resistance is broken, our target is 1.45160
Key support: 1.43180
Key resistance: channel resistance
An accumulation is forming on the chart which might try to break the trend, but on D1 MarketMaker is forming a trap
TA on a high timeframe:
1) Price does not reach the 1.4247 level and starts to reverse, there is a possibility that with increasing buyer activity, MarketMaker may reverse the market in the 1.44250-1.34700 area and direct it to 1.4242.
2) Above the 1.4400 area there is a large amount of liquidity that could be of interest to the market.
TA on the low timeframe:
1) Price is in a downward channel.
2) Resistance retest is forming.
3) If the bears hold this area, we will see a fall in the near future
4) But if the resistance is broken, our target is 1.45160
Key support: 1.43180
Key resistance: channel resistance
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