EUR/CAD – 1H – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) moves from the ascending trendline down.
A bearish descent downwards to the next support level at 1.49090 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.50239 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.49888068 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support zone at 1.50239 should be noted.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.50590 |
| Next High | 1.50239 |
| Current Price | 1.50158 |
| Next Low | 1.49090 |
| 2nd Low | 1.48752 |
| 3rd Low | 1.48347 |