EURCAD approaching resistance, potential drop!
EURCAD is approaching our first resistance at 1.5213 (c) and a strong drop might occur below this level pushing price down to our major support at 1.4992 (horizontal swing low support, 50% Fibonacci retracement).
Stochastic (89,5,3) is also seeing a bearish divergence and approaching resistance where 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 resistance where 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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.