EURCAD: Critical Momentum

EURCAD, Daily

In the Daily timeframe, EURCAD formed a rising channel pattern, and the price fell to the lower trendline. Despite the long-term growth, a divergence formed on the MFI.

• If the price breaks the lower trendline below the support at 1.5000, the fall will be to 1.4900 and 1.4850;

• A rebound from the trendline and a rise above MA50 will take EURCAD back to 1.5150;