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FxWirePro: EUR/CAD Trade Idea

Friday, January 4, 2019 7:10 AM UTC

EUR/CAD chart on Trading View used for analysis

EUR/CAD Technial Analysis: Bias bearish
- 5-DMA has turned sharply lower
- Stochs and RSI are showing a rollover from overbought levels
- MACD is showing a bearish crossover on signal line

Data Watch Today:
- Germany Service PMI, Composite PMI, Unemployment data (08:55 GMT)
- Euro zone Service PMI, Composite PMI (09:00 GMT)
- Euro zone CPI, HICP, PPI (10:00 GMT)

Support levels - 1.5341 (converged 20-DMA and 21-EMA), 1.5221 (200-DMA)
Resistance levels - 1.5465 (5-DMA), 1.5640 (Dec 28 high)

Recommendation: Good to stay short on break below 1.5341, SL: 1.54, TP: 1.5225

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FxWirePro: EUR/CAD Trade Idea

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