EURCAD: Symmetrical triangle

EURCAD, Daily

In the Daily timeframe, EURCAD formed a symmetrical triangle pattern. The price has reached the upper trend line, but the Stochastic is out of overbought, indicating the possibility of a decline. However, the AO is pointing to a growing bullish sentiment.

• A break of the trend line above 1.4980 will open the way to 1.5150;

• A bounce off the trendline will drop EURCAD towards the lower trendline to 1.4790;