- EURCAD reversed from resistance level 1.5880
- Likely to fall to support level 1.5495
EURCAD currency pair recently reversed down from the pivotal resistance level 1.5880 (which has been reversing the price from the start of July) intersecting with the upper daily Bollinger Band and the resistance trendline of the daily up channel from 2022.
The downward reversal from the resistance level 1.5880 created the weekly Shooting Star – a strong sell signal for EURCAD.
Given the overbought daily Stochastic and the strength of the resistance level 1.5880, EURCAD currency pair can be expected to fall to the next support level 1.5495.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
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.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
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.