EUR/CAD – 1H – SELLThe combination goes from the ascending trendline downwards
A bearish trend downwards to the next support level at 1.49861 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.50436 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 1.49649 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support line at 1.50436 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.51506 |
| 2nd High | 1.50950 |
| Next High | 1.50436 |
| Current Price | 1.49977 |
| Next Low | 1.49861 |
| 2nd Low | 1.49781 |
| 3rd Low | 1.48862 |