EUR/CAD – 1H – BUYThe combination jumps from the ascending trendline down.
The bearish trend downwards to the next support at 1.49009 will persist.
Caution: A possible reversal of the trend in the direction of resistance at 1.50072 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke through the Fibonacci 0.5-Level.Continuation of the current ascending trend will persist. Target of the current trend is 1.49961632 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.50072 should be noted.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50950 |
| 2nd High | 1.50221 |
| Next High | 1.50072 |
| Current Price | 1.49631 |
| Next Low | 1.49009 |
| 2nd Low | 1.48873 |
| 3rd Low | 1.48603 |