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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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EUR/CAD Testing Support, Prepare For A Bounce

EUR/CAD is approaching its support at 1.4849 (100%, 61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where price is expected to bounce up to its resistance at 1.4920 (38.2% Fibonacci retracement, horizontal pullback resistance).

Stochastic (55, 5, 3) is approaching its support at 2.3% where a corresponding bounce is expected.

EUR/CAD is testing its support where we expect to see a bounce.

Buy above 1.4849. Stop loss at 1.4797. Take profit at 1.4920.

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