EUR/CAD chart - Trading View
Technical Bias: Bearish
- The pair has failed at strong trendline resistance
- Price action has slipped below 200-DMA
- Gravestone Doji formed on the daily charts
- Stochs and RSI are sharply lower, MACD on verge of bearish crossover on signal line
- Scope for weakness, immediate support lies at 1.50 (trendline), break below 1.50 will see dip till 1.4945
- Retrace above 200-DMA will see upside till 1.5140
Support levels - 1.50 (trendline), 1.4945 (trendline)
Resistance levels - 1.5080 (200-DMA), 1.5145 (trendline)
Recommendation: Good to go short on upticks, SL: 1.51, TP: 1.50/ 1.4945
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
