От: Dima Chernovolov

EUR/CAD continues to fall inside the 4-hour Falling Wedge chart pattern which was previously identified by Autochartist. Autochartist оценивает качество падающего клина на уровне 4 столбцов, что является результатом медленного начального тренда. (1 бар), средняя Однородность (5 брусья) и сильная Ясность (8 брусья). EUR/CAD is expected to fall further inside this Falling Wedgein line with the earlier breakout of the support area show below.

As can be seen from the weekly EUR/CAD chart below – the price earlier broke the support area located between the key support level 1.5050 и 50% Fibonacci correction of the weekly upward impulse from the start of 2020. This price area is acting as the strong resistance zone after it was broke. The proximity of this resistance zone increases the probability EUR/CAD will continue to fall inside this 4-hour Falling Wedge.

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