EURCAD in a Megaphone Pattern! In-Depth Analysis

EURCAD in a Megaphone Pattern! In-Depth Analysis Fundamental and Technical Analysis

The price is moving within a large corrective pattern for nearly one month.

This corrective pattern is very large in time and finally this
is taking the shape of a "Megaphone Pattern"

The news from BOC today and the combination with the pattern are growing the chances
for a bullish movement again.

You may find more details in the video!

Thank you and Good Luck!

Kommentera:

🚨BOC
Bank of Canada kept rates unchanged at 5% but maintained a hawkish stance on inflation. This is what is holding CAD so far.

✅However, the BOC is doing the same as the US with these hawkish stances. In my opinion, they already stopped raising interest rates today. Probably the market may react later against CAD.
Let's see