EURCAD: Important Decision Ahead 🇪🇺🇨🇦

5 May 2021

EURCAD is currently testing a key level.

Based on a current market sentiment it is quite hard to say whether that structure will be broken or not.

For now, wait for the decision of the market participants:

• To short wisely, wait for a bearish breakout of the underlined yellow structure (daily candle close below).
  Then short on a retest.
  
  After a breakout, chances will be high to see a bearish continuation all the way down to 1.45 level.
  
  
• To buy wisely, follow a falling wedge pattern on 8h chart.
  Once its resistance is broken, it will be a strong bullish signal.
  A pullback will be expected to 1.49 level.
  

Be patient, and let the market decide.