EUR/CAD – 1H – SELLThe currency pair moves from the bullish trendline downwards
A descending movement downwards to the next support at 1.49741 is likely expected.
Caution: A possible change in the direction of the resistance level at 1.50589 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend is likely expected. Current target is 1.50120304 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of support at 1.50589 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.51506 |
| 2nd High | 1.50709 |
| Next High | 1.50589 |
| Current Price | 1.50531 |
| Next Low | 1.49741 |
| 2nd Low | 1.49648 |
| 3rd Low | 1.48873 |