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FxWirePro: EUR/CAD breaks above major trendline resistance, long dips, target 200-DMA at 1.4762

Symmetric triangle pattern breakout evidenced. EUR/CAD breaks major resistance at 1.4645, bias higher. Pair was rejected at lows by 1.4649, extends upside. Momentum studies are bullish, scope for test of 200-DMA at 1.476…

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FxWirePro: EUR/CAD breaks above major trendline resistance, long dips, target 200-DMA at 1.4762
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  • Symmetric triangle pattern breakout evidenced.
     
  • EUR/CAD breaks major resistance at 1.4645, bias higher.
     
  • Pair was rejected at lows by 1.4649, extends upside.
     
  • Momentum studies are bullish, scope for test of 200-DMA at 1.4762.
     
  • Major support levels - 1.4640 (triangle top), 1.4622 (5-DMA), 1.4604 (10-DMA), 1.4565 (Aug 31 low).
     
  • Major resistance levels - 1.4684 (Sept 1 high), 1.4706 (June 2 high), 1.4722 (Aug 22 high), 1.4762 (200-DMA).
    ​

Recommendation: Good to long dips around 1.4660, SL: 1.46, TP: 1.47/ 1.4722/ 1.4762
 

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