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Triple Bottom Setup

This looks like an interesting chart

The daily candle on EURCAD bounced neatly off an AB=CD level yesterday. This is just below the support of the early December low

If today’s candle starts to get meaningfully clear of yesterday’s high at 1.3873, it will begin to look like a rejection of the AB=CD turning point. A short term uptrend will be established with daily candles making higher lows and higher highs. (Of course we can’t be certain of a higher low until today’s close)

A short term trend change here would leave this whole situation looking like a potential triple bottom. That carries the possibility of a rally to the major resistance around 1.4356 or beyond.  

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