EUR/CAD – 4H – BUYThe currency pair Euro/Canadian Dollar (EUR/CAD) jumps from the bullish trendline downwards
A bearish trend downwards to the next support level at 1.48205 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 1.50590 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will persist. Target of the current trend is 1.5059 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance level at 1.50590 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.51696 |
| Next High | 1.50590 |
| Current Price | 1.49408 |
| Next Low | 1.48205 |
| 2nd Low | 1.47224 |
| 3rd Low | 1.44868 |