FxWirePro's Hourly Currency Strength Index for EUR/CAD at 1000 GMT: Bias Bullish
FxWirePro's EUR Spot Index: 42.5548 (Neutral)
FxWirePro's CAD Spot Index: -117.254 (Bullish)
Technical Analysis: Bias Bullish
- The pair has ignored 'Shooting Star' formation and resumed upside.
- Price action holds 'Symmetric Triangle' Breakout.
- Upside resumes after Doji formation on previous week's candle.
- Intraday bias higher, price action retakes 20-DMA. On track to test channel top at 1.54.
Support levels - 1.5124 (5-DMA), 1.5119 (20-DMA), 1.4970 (50-DMA)
Resistance levels - 1.52, 1.5218 (61.8% Fib retrace of 1.6105 to 1.3783 rally)
Recommendation: Good to go long on dips around 1.5150/70, SL: 1.51, TP: 1.52/ 1.5225/ 1.53
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