The currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the descending trendline down.
A continuation of the bearish trend down to the next support at 1.56665 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 1.57983 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which could be a positive signal. The pair is likely to go up.
Support & Resistance | Price Range* |
---|---|
3rd High | |
2nd High | 1.59602 |
Next High | 1.57983 |
Current Price | 1.58007 |
Next Low | 1.56665 |
2nd Low | 1.54067 |
3rd Low | 1.53824 |
1.57983 – 1.59602 – 1.58520 – 1.56665 – 1.56944 – 1.56714