EUR/CAD could have damaged a longtime pattern, however each bulls and bears are nonetheless locked in on the identical key ranges!
The pair is again at main help, the place both contemporary 2026 lows open up, or patrons step in once more.
Right here’s what we’re seeing on the each day timeframe:
EUR/CAD Each day Chart Sooner With TradingView
Improved threat sentiment, blended mid-tier Euro Space knowledge, and anticipation forward of this week’s ECB coverage determination have pushed merchants to trim euro publicity in current classes.
In the meantime, the Canadian greenback has picked up some help as crude oil costs rebound, US-Canada commerce tensions ease, and threat urge for food stays constructive.
Do not forget that directional biases and volatility circumstances in market worth are sometimes pushed by fundamentals. When you haven’t but finished your homework on the Canadian greenback and the euro, then it’s time to take a look at the financial calendar and keep up to date on each day elementary information!
EUR/CAD broke under a longtime trendline help in late December, made a run at 1.6400 earlier this month, then rapidly bumped into sellers, pushing the pair again towards the 1.6100 space.
EUR/CAD being drawn again to the 1.6100 deal with is about as stunning as Olivia Dean successful Finest New Artist on the Grammys. See, the realm acted as each help and resistance again in mid-2025 and once more in December, so merchants already understand it’s a giant deal.
This time round, 1.6100 additionally traces up with the each day 200 SMA and sits simply above the S1 Pivot Level close to 1.6000, giving the realm much more technical weight.
If bullish candlesticks begin displaying up and worth holds above 1.6200, EUR/CAD may work its means again towards the 1.6300 prior highs and probably rebuild increased highs and better lows.
But when sellers keep in management, the pair may slide towards the 1.6000 zone, the place bulls and bears are prone to battle it out and probably kick off a broader downtrend.
Whichever bias you find yourself buying and selling, don’t neglect to apply correct threat administration and keep conscious of top-tier catalysts that would affect general market sentiment.
Disclaimer:
Please bear in mind that the technical evaluation content material supplied herein is for informational and academic functions solely. It shouldn’t be construed as buying and selling recommendation or a suggestion of any particular directional bias. Technical evaluation is only one facet of a complete buying and selling technique. The technical setups mentioned are meant to spotlight potential areas of curiosity that different merchants could also be observing. Finally, all buying and selling selections, threat administration methods, and their ensuing outcomes are the only duty of every particular person dealer. Please commerce responsibly.
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