EURCAD: Diagonal pattern in the weekly chart, Triangle pattern in the daily chart
( Weekly Chart )
In the weekly chart, the largest waves have a triple structure, so monitoring the charts shows the end of the chart is in a form of 3-wave pattern that starts from the range of 1.2129. According to these explanations, the price is forming an Ending Diagonal pattern in this time frame. In continuation, we will study the daily chart and the details of the movement.
( Daily Chart )
In the daily chart, the price is in the final wave of the Diagonal pattern, of which the B wave is forming the triangle pattern, and the movement is terminating. The uptrend formation and the end of the Triangle pattern can be confirmed by crossing the price from the range of 1.5785.
But the main point can be seen in the 240-minute chart, in this chart at the end of the E wave the Diagonal pattern is being formed. By crossing the price from the range of 1.5600 we can get the early confirmation to enter the completion of the Triangle pattern with targets of 1.6250 to 1.6300.
In the weekly chart, the largest waves have a triple structure, so monitoring the charts shows the end of the chart is in a form of 3-wave pattern that starts from the range of 1.2129. According to these explanations, the price is forming an Ending Diagonal pattern in this time frame. In continuation, we will study the daily chart and the details of the movement.
In the daily chart, the price is in the final wave of the Diagonal pattern, of which the B wave is forming the triangle pattern, and the movement is terminating. The uptrend formation and the end of the Triangle pattern can be confirmed by crossing the price from the range of 1.5785.
But the main point can be seen in the 240-minute chart, in this chart at the end of the E wave the Diagonal pattern is being formed. By crossing the price from the range of 1.5600 we can get the early confirmation to enter the completion of the Triangle pattern with targets of 1.6250 to 1.6300.
