EURCAD reacting below key Fibonacci retracement and 1st resistance at 1.51026. A short term drop towards ascending trendline support and 1st support at 1.50409 could be possible. Stochastic is testing resistance as well.
Trading Recommendation
Entry: 1.51026
Reason for Entry:
61.8% Fibonacci retracement
Take Profit: 1.50409
Reason for Take Profit:
61.8% Fibonacci retracement, ascending trendline support
Stop Loss: 1.51854
Reason for Stop Loss:
Graphical swing high
The material has been provided by InstaForex Company - www.instaforex.com