EURCAD is stuck between two strong structure levels:
1.5275 is the resort for sellers, from that level we saw 5 retracements since 13th of May.
1.517 is the current support for buyers and the price has already bounced 2 times from that level last week.
The future direction of the pair is unknown.
For clarification, we will be waiting for a 4H breakout (candle close above/below) of the underlined range.
in case of a bullish breakout, the price will keep growing,
our goals will be:
1.534
1.543
in case of a bearish breakout, the price will drop to current daily support.
our goal will be:
1.509
now I am bullish biased on that and think that the pair will keep growing!
but who knows, let's be patient and see:)
what do you think will happen?
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