EURCAD approaching support, potential bounce!
EURCAD is approaching our first support at 1.5082 (horizontal swing low support, 50% Fibonacci retracement, 61.8% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 1.5160 (horizontal swing high resistance, 50%, 38.2% Fibonacci retracement, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it react off this level.
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 approaching support and we might see a corresponding bounce in price should it react off this level.
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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