EURCAD approaching support, watch for breakout of support!
EURCAD broke out of our ascending support line and is approaching our first support at 1.5195 (horizontal overlap support) and a strong drop might occur below this level pushing price down to our major support at 1.4991 (horizontal swing overlap support, 100% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also reacting off resistance where we 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 reacting off resistance where we 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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