EUR/CAD – 30M – SELLThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the ascending trendline down.
A bearish movement down to the next support at 1.49296 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 1.49948 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Current target is 1.49601384 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support zone at 1.49948 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.50590 |
| 2nd High | 1.50308 |
| Next High | 1.49948 |
| Current Price | 1.49753 |
| Next Low | 1.49296 |
| 2nd Low | 1.49205 |
| 3rd Low | 1.48758 |