Almost from the beginning of June EURCAD moves south. As a result of these declines market broke local -1.75% support at 1.4985 and reached lower limit of a long-term consolidation where yesterday first demand response occurred.
Rejection of currently tested support could open the way to growth which would lead to a re-test of the previously broken support (now resistance). So in short term, you should consider long position on this instrument.
Rejection of currently tested support could open the way to growth which would lead to a re-test of the previously broken support (now resistance). So in short term, you should consider long position on this instrument.
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