FX.co ★ Daily Video Analysis: EURCAD approaching descending trendline, potential for reversal!

Today we take a look at EURCAD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is approaching descending trendline resistance, where we could see a reversal at sell entry level, which is also in line with 61.8% Fibonacci retracement, and further downside towards take profit levels, in line with horizontal swing low support and -27.2% Fibonacci retracement. Stochastics is also showing signs of bullish pressure, in line with our analysis.