EUR/CAD is forming a falling wedge on the D1 chart. But the price has not broken above the wedge at the moment. It is predicted that the price will touch below the wedge and then pull back further above the breakout wedge. Ichimoku indicator, the Tenkan-sen line forms a death cross with the base line, and the encounter line is below the price. The trend is mostly bearish. In addition, the RSI indicator is conducive to pushing prices down. MACD indicator bears volume successfully broke above the signal line. The shorting trend is strong.
The 200MA indicator on the H1 chart is above the price, indicating that the trend is in a downtrend. The RSI indicator also helps push prices down.
All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.
