EURCAD (H4): LONG Idea Breaking the DESCENDING CHANNEL

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TECHNICAL ANALYSIS:
In this H4 chart we got a really interesting situation, in fact the price is clearly following a descending channel and it's just reached an important resistance zone.
In a Daily perspective, instead, the price is moving following an ascending channel and price's just reached the channel's dynamic support, giving us the first sign of rejection.

CONCLUSION:
I think the price will move up following the daily trend because the two S/R dynamic line of that channel are perfectly rejecting the price.
In my opinion this is not the best moment to open a long position, but I'd wait the break out of the dynamic resistance line and I'll look for a long trade on the pullback, it will definitely confirm the beginning of the new uptrend and you could trade with less dubts!

Stay tuned for updates and trade details!
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Trade Safe and Responsibly
Gianni