EURCAD, clear corrective structure and possible bullish movement
Main items we can see on the chart:
a) Currently, the price is on a Falling Wedge pattern (ABCDE Structure)
b) We can see that the Falling wedge is sustained on a support zone + ascending trendline (that provide us a solid level)
c) Now, the price is making a small correction after a subtle breakout of the falling wedge pattern
d) Our forecast is a bullish movement towards the next resistance zone IF the price breaks above the green line
e) We also have an invalidation level in case the price does not go as expected
a) Currently, the price is on a Falling Wedge pattern (ABCDE Structure)
b) We can see that the Falling wedge is sustained on a support zone + ascending trendline (that provide us a solid level)
c) Now, the price is making a small correction after a subtle breakout of the falling wedge pattern
d) Our forecast is a bullish movement towards the next resistance zone IF the price breaks above the green line
e) We also have an invalidation level in case the price does not go as expected