Hello everyone and profitable trading! For the pair EUR/CAD, we managed to keep the price in the selling zone of the Envelopes on the four-hour timeframe below the resistance level of 1.6029. Therefore, sales remain a priority, and the target for selling the EURCAD pair will be the lower boundary of the trading range on the four-hour timeframe at 1.5864, which corresponds to a deviation of exactly -1% from the usual 55-day moving average. The bearish scenario will only be canceled if a four-hour candle closes above the level of 1.6029. Accordingly, I expect the EURCAD pair to decline from the current level of 1.5976 to the support level at 1.5864.
