Key Resistance: 1.6150
The EURCAD printed an inside week last week after a massive +2.30% (+357 pips) week the week before. This is extremely bullish and we are looking to monetize on a break of that week´s highs.
The short term is looking very bullish with price trading inside a very structured move with the mid to long term bullish structure being intact.
Our invalidation level comes below today’s lows. Should price reverse and break with it our trade idea is no longer valid and we must exit the trade.
At the moment of the writing of this analysis price already broke with this month’s highs and the probability of a loss here is frankly very low.
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