EUR/CAD: Possible Reversal Movement

2 Apr 2023

There may be a potential reversal in the movements of EUR/CAD following the breaking of its dynamic trendline and testing the top at 1.4940. The negative correlation between EUR/CAD and EUR/USD suggests that an increase in EUR/USD and a decrease in EUR/CAD may occur. We are currently waiting for this to happen. Our indicator has already signaled a sell entry, which we have acted upon. There is a strong possibility of this trend continuing further.