EURCAD has been trading within a large range, with price repeatedly rotating between well-defined support and resistance levels. 📊

📌 Price is now retesting the upper bound of the range, where a major resistance zone comes into focus. As long as this resistance continues to hold, we will be looking for sell setups in anticipation of another move back toward the lower boundary of the range.

This area has repeatedly attracted sellers in the past, making it a high-probability zone to monitor. Rather than selling blindly, we will wait for bearish price action confirmation before considering short positions.

Will sellers defend the range resistance once again, or is a bullish breakout finally on the horizon? 🤔

⚠️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.

📚 Stick to your trading plan regarding entries, risk, and management.

Good luck! 🍀

All Strategies Are Good; If Managed Properly!
~Richard Nasr