EURCAD will FALL from RESISTANCE line

After a long rise in early summer, in July the price reached its local maximum and began to move in a long downtrend. She has been in it since July.

Inside the trend, the price tests local highs and lows, forming slightly strong lines. For example, in early September, a resistance line appeared at its highs.



This line, albeit very young - only two months, has already changed the price direction four times. Three times these were very powerful falls. Now the price is supported by the support line.

We see that the price has once again touched the resistance line at 1.554 and is even trying to break it. However, I expect that this time, too, she will not be able to grow larger and will fall. The target in this case is the support line 1.544.

Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩‍💻