FxWirePro: EUR/CAD faces major resistance at 1.4835, further upside only on break above

• EUR/CAD has broken above 78.6% Fib and is currently trading at 1.4823.
   
• The pair has seen a nice bounce after formation of 'Bullish Butterfly' pattern.
   
• Our previous call (http://www.econotimes.com/FxWirePro-Bullish-Butterfly-formation-on-EUR-CAD-dailies-good-to-long-dips-364170) has achieved all targets.
   
• Break above 1.4835 likely to see resumption of upside in the pair.
   
• Major support levels - 1.48, 1.4783 (78.6% Fib), 1.4728 (5-DMA), 1.4711 (cloud top), 1.4662 (200-DMA)
   
• Major resistance levels - 1.4835 (trendline), 1.4851 (Oct 10 high), 1.4893 (Oct 7 high)
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Recommendation: Good to go long on breakout above 1.4835, SL: 1.4780, TP: 1.4893/ 1.49/ 1.4925