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EURCAD to Drop Below 1.6050
Sep 07 at 05:22
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1 Replies
forex_trader_3826673
Member Since Aug 25, 2024
15 posts
Sep 07 at 05:22
(edited Sep 05 at 19:15)
EURCAD has been pushing higher, but I believe a reversal is imminent. I expect the pair to drop below 1.6050 by next week.
forex_trader_3826673
Member Since Aug 25, 2024
15 posts
Sep 14 at 23:09
Last week’s outlook: I expected EURCAD to reverse lower and break below 1.6050 within the week.
What happened: Instead of dropping, the pair stalled — the uptrend paused, and the price has been consolidating for the past 7 days.
Current view: Consolidation often signals an upcoming strong move. I remain bearish and still expect EURCAD to break below 1.62 soon.
Invalidation: If EURCAD closes above 1.6350, I will reconsider my bearish outlook.
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