FBS turns 16

Unlock birthday rewards: from gadgets and dreams cars to VIP trips.Learn more

Jan 23, 2025

Trade ideas

EURCAD: Symmetrical triangle

EURCAD, Daily

EURCADDaily.png

In the Daily timeframe, EURCAD formed a symmetrical triangle pattern. The price has reached the upper trend line, but the Stochastic is out of overbought, indicating the possibility of a decline. However, the AO is pointing to a growing bullish sentiment.

  • A break of the trend line above 1.4980 will open the way to 1.5150;
  • A bounce off the trendline will drop EURCAD towards the lower trendline to 1.4790;

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

Share with friends:
Egor Schmidt

Author: Egor Schmidt

Open an FBS account

By registering, you accept FBS Customer Agreement conditions and FBS Privacy Policy and assume all risks inherent with trading operations on the world financial markets.