EURCAD: UNDERSTANDING WHAT REALLY MOVES THE PAIR

Eurcad has been accumulating just around the level I marked out for weeks without breaking below or above the range, the idea still remains bearish but the main entry reasons is not established yet, untill an entry Reason is established eurcad trade will be observed closely

EURCAD- On the weekly, price has created a weekly pennant chart pattern. This is a bilateral chart pattern that often shows neutrality between the bulls and the bears, where neither party dominates the trend at the moment.
Its best to wait for a breakout on either side of the pennant when one party has taken over, to avoid getting trapped.

The 4hrs is already showing a bearish continuation but I will still wait for the break of a key structure level then look for a retest

Alright. I'm having this on 4hr. A break above that confluence zone at 1.6090 price level, and price will rally. Otherwise, we should see a drop down to 1.6029

Eurcad is supposed to sell to the weekly lows but shows more resilience in sells, what ever price present whether a breakout to the upside or below, it's just to wait for the retest because that's the main thing, not even the breakout

Every EUR pair is usually a no no for me. They rarely have a smooth price action chart and can stress with bias. I avoid them as much as possible.

Why it's like this is because EUR basket is weak as cad basket too, I was thinking oil will help cad but I think oil is even selling because haven't checked it today

Yeah. Oil declined in price today. Oil relates more with USDCAD, than any other CAD pair.
Today has been bullish for EURCAD. it will possibly close above Friday's high. but if it closes below it, then the chances for the sell will increase.

If that's the case then we wait, so we can have a good entry, rushing into trades is not ideal at all , I want to take this trade on my propfirm, I lost 2$ today and made 25.6$ later on gold, so still good to go

Alright. Managing your risk is top priority.