EURCAD – Bullish Continuation Toward 1.49730

Feb 24

EURCAD has broken above a key resistance zone around 1.49000, which has now flipped to support, aligning with a potential bullish continuation. The recent retest of this level held successfully, indicating strong buyer interest and reinforcing the bullish outlook.

With momentum favoring the upside, the next logical target is 1.49730, aligning with the upper boundary of the ascending channel. As long as the price remains above the 1.49000 support, the bullish bias stays intact.

If you agree with this analysis or have additional insights, feel free to share your thoughts here!

Feb 25

Trade closed manually

The price failed to break above the recent high and began showing signs of rejection, indicating potential weakness in bullish momentum. To manage risk effectively, I decided to close the position manually at breakeven. If the price returns to the support zone and shows clear signs of rejection, I may consider re-entering the trade.