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Add as a preferred source on Google 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…
By FxWirePro Team Sep 2, 2016, 7:20 AM UTC
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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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