j.Hejazi | EURCAD waiting for breakout
The EURCAD currency pair has formed a triangle pattern with a divergence on the MACD indicator. This pattern also appears to show triple tops with another divergence. These patterns are located at a strong resistance area, as the price is touching the 200-week moving average and testing the key level of 1.46350. To consider a sell signal, the price must break the neckline of the triple tops and triangle.
However, if the price moves up and breaks the moving average, it must also break the 2 yearly resistance trend lines at 1.47313 to be considered a buy signal.
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However, if the price moves up and breaks the moving average, it must also break the 2 yearly resistance trend lines at 1.47313 to be considered a buy signal.
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Please follow if you're interested in more ideas like this.
Your support is greatly appreciated!
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