Forex Forecasts: Buying opportunity on the EURCAD

The EURO / CANADIAN DOLLAR pair is moving inside the falling wedge pattern in the long term and the pair is near the upper side of the pattern, while on a 4-hour frame the pair was able to form a smaller descending wedge pattern whose upper side overlaps with the upper side of the larger wedge.

Thus, the breakout of the two models and the pivot point 1.5563 is a strong opportunity to buy the pair with the first target 1.5563 and the second target 1.5757.

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The first goal is achieved, stop loss upon entry, and targets await