EURCAD | Don't let the market move without you

3 Okt 2023

EUR/CAD: Downtrend Over, Time to Buy

The EUR/CAD chart shows that the price has ended the recent downtrend. A confirming divergence has appeared with the breakdown of the downtrend. This suggests that the price has begun to move up.

The price is now expected to retrace before continuing to rise. Traders can wait to buy the price at the support levels shown.

The chart also shows that smart money is entering at the lower price levels from the current price. This suggests that there is strong demand for EUR/CAD.

Trading tips:

Wait for the price to return to the support levels before buying.
Place a stop loss below the support levels.
Use other indicators to confirm the uptrend.
Forecast:

The price is heading towards the levels of 1.3500 and 1.3600.
Note:

These are just forecasts and should not be considered investment advice.

Here is a more concise version:

EUR/CAD: Downtrend ended, uptrend likely to resume

The price has ended the recent downtrend and is expected to resume the uptrend. Traders can wait for a retracement to the support levels before entering.