1,6109. EUR CAD is in an uptrend supported by 1H exponential moving averages. EUR CAD is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR CAD. The price should find a resistance below 1,6170. The consolidation should continue. The price should continue to move in Bollinger bands.
We are waiting for a break of resistance to take a long position.
1,6170 - 1,6200
1,6100 - 1,6015