EUR\CAD Bullish Megaphone will Break the 1.600 Resistance

EUR\CAD has created a Bullish Megaphone Pattern at the 4-hour chart. This pattern usually leads to a breakout upwards, and in this case it will lead to breakout of the 1.6000 Resistance level. Trades will be initiated at the bottom of the Megaphone at the lower trend line. The Megaphone can also be confirmed using a Fibonacci Retracement that also indicates a breakout upwards.