EURCAD Breakout Scenario
With
the daily consolidation witnessed on the Euro Canadian pair EURCAD, there is a
likely breakout that is expected to trigger a BULLISH or BEARISH momentum.
Thus, it can be a temporary break in an uptrend or downtrend, whereby
the price would still resume in the direction of the trend. On the other
hand, it can also be a transition period where the trend changes
direction — from downtrend to uptrend or from an uptrend to downtrend.
In other words, the EURCAD consolidation can be a trend continuation formation or a
trend reversal formation. This is a pair that all traders should keep an eye on.
EURCAD Breakout expectation
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