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EURCAD Weekly Forex Forecast 22nd October to 28th October by yshashmi37 on TradingView.com
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.4800 would begin in Midterm.
Technical analysis:
There is a divergence in RSI and price between the trough at 1.47985 on 2018-08-15 and the trough at 1.47505 on 2018-10-04, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
A trough is formed in daily chart at 1.4930 on 10/19/2018, so more gains to resistance(s) 1.5190, 1.5315, 1.5465 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 53.
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