EURCAD Analysis:
EURCAD is rebounding from the low level of the descending channel in the 4-hour timeframe chart.
In the 1-hour timeframe chart, EURCAD has reached the higher low area of the minor Ascending channel.
After confirmation of upward movement, EURCAD buy signal is given.
But EURCAD has broken the higher low area of the minor Ascending channel line and started to consolidate between the Entry zone.
Fundamental News Reason: Bank of Canada increases the interest rate from 0.50% to 1.00% it may have a chance to make a positive impact on the Canadian dollar.
Technical reason: EURCAD has broken the higher low area of the minor Ascending channel and consolidating now in the 1-hour timeframe chart.
The market moving up and down between the entry price ranges for more than 2 days.
As per signal following rules, due to consolidation at the entry, the EURCAD signal has closed at an entry price level.
For new users: Please note: EURCAD signal has been closed at the entry price level due to lack of movement and the 2 days protection rule. Keep following our signals as per the signal rules given to you under each signal message
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