EUR/CAD – 1H – SELLThe combination goes from the bullish trendline downwards
A bearish trend downwards to the next support level at 1.49741 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.50589 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 1.50120304 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support level at 1.50589 should be noted.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.51506 |
| 2nd High | 1.50709 |
| Next High | 1.50589 |
| Current Price | 1.50545 |
| Next Low | 1.49741 |
| 2nd Low | 1.49648 |
| 3rd Low | 1.48873 |