EURCAD - Weekly Forecast - Technical Analysis & Trading Ideas

EURCAD
💡 Daily Timeframe:

• As forecasted by 4CastMachine AI, The Euro also reached our TP7 at 1.5777 by breaking the resistance at 1.5156.
  
• The broken resistance area will serve as our new support area and Buy Zone.
  
• As long as this area is not broken down, there is a possibility of a resumption of the uptrend.
  
• If the price enters our new buy zone with a corrective wave and is rejected from it, we will enter with buy trades.
  

💡 H4 Timeframe:

• The bearish wave is expected to continue as long as the price is below the strong resistance at 1.5857
  

💡 H1 Timeframe:

• The uptrend is broken, and price is in an impulse wave.
  
• 1.5729 support is broken now. It will act as a Resistance now!
  

Forecast:

1. Correction wave toward the Sell Zone
   
2. Another Downward Impulse wave toward Lower TPs
   

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ForecastCity Support Team