EURCAD approaching resistance, potential drop!
EURCAD is approaching our first resistance at 1.5189 (horizontal overlap resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension) and a strong reaction might occur below this level pushing price down to our major support at 1.4993 (horizontal overlap support, 50% Fibonacci retracement).
Stochastic (89,5,3) is also seeing a bearish divergence and approaching our resistance and a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also seeing a bearish divergence and approaching our resistance and a reaction below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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