- April 18, 2022
- Posted by: Tradingshot Articles
- Category: Forex
EURCAD has been trading within a stable and consistent pattern on the long-term. Since 2013 it is trading within a hyperbolic channel posting aggressive 1 year rallies followed by steadier +1.5 years corrections in the form of Channel Down sequences.
At the moment the price is trading at the lowest level it has been since early June 2015 and the closest to the bottom of the hyperbola. We are turning bullish on this pair long-term, expecting a 1 year rally towards the top of the hyperbolic pattern, with an early estimate being 1.51000.