EURCAD Remains in Consolidation Past the 1.5500 Level After Upside Rejection

Azeez Mustapha



Select a Plan


 1-month subscription



 3-month subscription



 6-month subscription



 lifetime subscription



 Separate Swing Trading Group



Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored


Service for copy trading. Our Algo automatically opens and closes trades.


The L2T Algo provides highly profitable signals with minimal risk.


24/7 cryptocurrency trading. While you sleep, we trade.


10 minute setup with substantial advantages. The manual is provided with the purchase.


79% Success rate. Our outcomes will excite you.


Up to 70 trades per month. There are more than 5 pairs available.


Monthly subscriptions begin at £58.

EURCAD Price Analysis – January 13

The EURCAD pair trades under the 1.5550 level after meeting a strong barrier at the 1.5785 level in an upside correction. EURCAD is slipping to sellers’ territory and well on its way for prospects of a price correction. Crude oil made a new swing high and at the same time, CAD may see some upside.

Key Levels
Resistance Levels: 1.5785, 1.5675, 1.5609
Support levels: 1.5422, 1.5376, 1.5200
EURCAD Long term Trend: Ranging
The emergence of some fresh CAD buying, in turn, was seen as one of the key factors that capped the upside for the EURCAD pair beneath the 1.5550 level. The downside, however, remained cushioned on the back of weaker crude oil prices at the 1.5422 level. In the larger context, a fall from the 1.5785 level is seen as the 3rd phase of the corrective pattern from prior highs.

The rejection by the moving average 5 is keeping the trend bearish. But we’d expect a loss of downside momentum as it approaches the key support at the 1.5422 level. On the upside, a firm break of the 1.5550 resistance level is needed to indicate a price rebound. Otherwise, the trend may continue to consolidate in case of a rebound.
EURCAD Short term Trend: Ranging
EURCAD intraday bias remains neutral as consolidation continues from the 1.5785 high. On the other hand, a breach lower of 1.5500 would target the 1.5422 low level. The breach will resume the stronger fall from the 1.5970 level.

However, a break higher of the 1.5550 resistance level will extend the consolidation pattern from 1.5389 with a new phase of growth. Instead, the intraday bias will be directed up towards the 1.5609 level. Besides, the likelihood of a short-term trading stop being triggered above the level of 1.5675 contributes to its increase.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *