EURCAD: Re-test over?
Having a look at the EURCAD pair, we see the pair inclining again after approaching the key support level, which represents the neckline of the inverse head and shoulders pattern.
Areas of 1.3775 become the protection of the classical setup for short-term traders, while 1.4165 boundaries become the clue for resuming the reversal.
We classify the bounce from 1.4165 as a re-test process and thereby, we prefer buying the pair once again, reinforced by stability above Ribbons lines and positivity on RSI14.
Only coming beneath the afore-mentioned support will give us a rational reason for concern and will signal that, the peak of the setup is in place at 1.4165.