EUR/CAD – 30M – BUYThe currency pair goes from the bullish trendline down.
A bearish trend downwards to the next support at 1.49899 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 1.50680 is also possible.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Target of the current trend is 1.50512866 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the resistance level at 1.50680 is also possible.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.51756 |
| 2nd High | 1.51619 |
| Next High | 1.50680 |
| Current Price | 1.50530 |
| Next Low | 1.49899 |
| 2nd Low | 1.49357 |
| 3rd Low | 1.49162 |