EURCAD D1Euro/Canadian DollarFX:EURCADWinlouh1️⃣ Higher Timeframe Context 🔹 Previous Structure Clear descending trendline from October highs Lower highs forming for months Consolidation near 1.60–1.61 demand zone Now: Descending trendline breakout confirmed Structure compression above support Failed breakdown below 1.60 This suggests transition from bearish range → bullish reversal attempt. 2️⃣ Key Demand Zone 🔵 Major Support 1.6020 – 1.6080 Multiple reactions Liquidity engineered below range As long as price holds above 1.60 → bullish bias remains valid. 3️⃣ Structure Signals Observations: ✔ Breakout above descending resistance ✔ Higher low formed near 1.60 ✔ Compression under 1.62 resistance ✔ No new lower low This looks like accumulation before expansion. 4️⃣ Upside Targets 1.6350 (internal resistance) 1.6450 1.6658 (major range high liquidity) Liquidity draw is upward toward 1.665 area. 5️⃣ Probable Scenarios 🟢 Primary Scenario (Bullish Expansion) Small retracement toward: 1.608–1.610 Then continuation toward: 1.635 → 1.645 → 1.665 Break above 1.62 confirms momentum. 🔴 Failure Scenario If daily closes below: 1.60 Then breakout becomes false and return toward 1.58 possible. But current structure favors upside. 6️⃣ Currency Strength Insight EUR pairs (EURAUD, EURNZD) → bearish EURCAD → bullish breakout CAD currently weaker relative to EUR This is a cleaner bullish setup compared to GBPCAD. 📌 Summary Trend: Transitioning to bullish Key support: 1.60 Breakout confirmation: Above 1.62 Upside target: 1.665 Invalidation: Below 1.60