EUR/CAD – 4H – SELLThe pair Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline downwards
The bearish trend down to the next support line at 1.47595 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.50501 is also possible.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.4830182 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support line at 1.50501 is also possible.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.50590 |
| Next High | 1.50501 |
| Current Price | 1.48679 |
| Next Low | 1.47595 |
| 2nd Low | 1.47224 |
| 3rd Low | 1.44868 |