EUR/CAD – 30M – BUYThe pair jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 1.50021 is likely expected.
Caution: A possible trend reversal in the direction of the resistance level at 1.50664 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Current target is 1.50512866 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the resistance level at 1.50664 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.51619 |
| 2nd High | 1.50680 |
| Next High | 1.50664 |
| Current Price | 1.50406 |
| Next Low | 1.50021 |
| 2nd Low | 1.49899 |
| 3rd Low | 1.49357 |