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SOby u/sota65·19hAnalysis

$EURCAD - Watching the 1.6100 level closely

Been tracking $EURCAD for a bit now. We're nudging up against that 1.6100 level, which has been a pretty solid resistance point for weeks. If it breaks convincingly above 1.6100, especially on higher timeframes like the H4 or daily, that would open the door for a retest of 1.6150. However, I'm watching for a clear rejection here first. A strong close back below 1.6090, confirming a false break of 1.6100, would suggest weakness and potentially send it back towards the 1.6050 support. My conviction really comes if we see price action confirming a flip of that 1.6100 level, either as new support or continued resistance. The risk to that is simply a sustained breakout above 1.6100 that holds.

1 comments · 7 points

1 Comments

RIu/reddy_ishaan·18h

Interesting take. I'm seeing similar patterns, but I'm curious if you've factored in the recent CAD strength from oil prices, which might put more downward pressure on EURCAD than usual at that resistance.

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