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HomeLatestEURCAD Activates Correctional Decline – Forecast for June 24, 2024
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EURCAD Activates Correctional Decline – Forecast for June 24, 2024

EURCAD Price Analysis

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Current Scenario

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The EURCAD pair has initiated a correctional bearish trend following substantial negative pressure. This downward movement pushed the price below the 1.4705 support line, driven by the negativity of the MA55 indicator, resulting in a dip to 1.4615. The stochastic oscillator’s movement towards oversold areas is expected to amplify this negative pressure, likely driving the price further down to 1.4565, with a potential reach to the main support level at 1.4510.

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Expected Trading Range

The anticipated trading range for the EURCAD is between 1.4680 and 1.4580.

Trend Forecast

Bearish

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