Denis Joeli Fatiaki
Independent Analyst
EUR/CAD: Euro attempts to break out at 1.49940
What is going on now with EUR/CAD?
EUR/CAD: The Euro broke out of the falling wedge price pattern in yesterdays session, but it was capped at 1.49940 for the last 24 hours. The pair has been consolidating between 1.49940 and 1.49625 and now pushes up again towards 1.49940 resistance.
Our forecast
EUR/CAD: The Euro currently trades at 1.49940 and needs to maintain above this level to progress to its 500 EMA at 1.50270. The pair might pull back and continue its consolidation if it fails to continue at 1.49940
Support -1.49625, 1.49485, and 1.49100
Resistance - 1.49940, 1.50270, and 1.50710
The trade signals are posted on to our Telegram channel on a regular basis as per the link below.
https://t.me/leoprimefx
Chart 1: The short-term view of the EUR/CAD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points
Chart 2: The short-term view of the EUR/CAD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points
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