EURCAD facing bearish pressure, potential for further drop

analytics5f2a0a9677c54.jpg

Trading Recommendation

Entry: 1.57291

Reason for Entry: Horizontal overlap resistance, 38.2% fibonacci retracement, 61.8% fibonacci extension

Take Profit: 1.56199

Reason for Take Profit: 161.8% fibonacci extension

Stop Loss: 1.58053

Reason for Stop Loss: Horizontal swing high resistance, 38.2% fibonacci retracement

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