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EUR/CAD Bounced Off Support, Prepare For A Further Rise

EUR/CAD bounced nicely off its support at 1.5085 (100% & 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.5211 (50% Fibonacci retracement, horizontal overlap resistance).

Stochastic (55, 5, 3) is bounced off its support at 2.38% where a corresponding rise could occur.

EUR/CAD bounced nicely off its support where we expect to see a further rise.

Buy above 1.5085. Stop loss at 1.5008. Take profit at 1.5211.

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The material has been provided by InstaForex Company - www.instaforex.com