13
AMby u/almeida_mateo·2hAnalysis

Watching $EURCAD at this range high

Hey everyone,

I've been keeping an eye on $EURCAD lately, and it looks like we're pressing up against the higher end of what seems to be a pretty well-defined range around the 1.6080-1.6090 area. Today's high of 1.60875 just kissed that level, which makes me wonder if we're due for a bit of a retrace, or if this time it's going to be a more significant push through. My concern is that the daily candle looks like it might struggle to close above it convincingly. If we do get a sustained break and close above, say, 1.6100, then my immediate bearish bias would be invalidated, and I'd start looking at potential continuation towards 1.6150 or even higher. For now, though, I'm watching closely for any signs of rejection here. It's a tricky spot, and I'm curious to hear how others are seeing it.

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