The EURCAD chart belongs to one of the most technical, at least during the last month. The way the pair wanders is like a textbook. The wave of falls reaching the new low, correction to the last resistance and another wave of declines. Now the situation is repeated. Thanks to this, there may be a great opportunity to enter a short position. The slide on EURCAD began on July 20th. The price broke below support at 1.5305 and went down to the next at 1.5195. Then there was a retest of 1.5305 and drops to 1.5000. Then retest 1.5195 and depreciation to 1.4805.
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Now the price returns to 1.5000, the situation repeats itself. It is worth observing the behavior of EURCAD on the forthcoming four-hour candles. Although the dynamics of increases slightly decreased, perhaps the bulls will be able to raise the price even slightly. The next step will be joining the drops, which should easily reach the support level again at 1.4805.
