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Yemi_Fx1 | Bearish Setup and opportunity on EURCAD

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EURCAD recently broke out of a wide-ranging consolidation zone between 1.4400 and 1.4650. The breakout was followed by an upward impulse move, reaching a high of 1.4620 before pulling back slightly.

The current price is testing a key resistance level around 1.4570. A rejection at the current level could lead to a pullback towards the previous support area around 1.4500

And a potential bear flag pattern has emerged on the 4-hour chart. This pattern is characterized by a preceding impulsive move, a consolidation phase, and a downward breakout from the consolidation. If the pattern hold This will lead to move in the favour of the bears.

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