Get started
R-T

EURCAD - Prolonged Accummulation phase

Long
Euro / Canadian Dollar (OANDA:EURCAD)  
R-T Updated   
OANDA:EURCAD   Euro / Canadian Dollar
Supply and Demand Support and Resistance Trend Lines
3
0
supplyanddemand supportandresistance trendline
Price seemed trapped between Daily resistance and Monthly support for a long time now. It tried to break to South only to be rejected fiercely by buyers demand. However there are not enough sellers afterwards that bring the price back down.

Breakout to North seems more probable than going further to South in the outer channel (white line). Get ready for it.
Comment:
Price is still trapped between Daily resistance and Monthly support. Strong bearish power preventing price from going up. Breakout to North following Weekly channel is still to be expected.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.