Key Resistance Levels: 1.5424, 1.5552, 1.5656
Key Support Levels: 1.5270, 1.5197, 1.5078
EUR/CAD Price Long-Term: Bearish
The pair is in a clear downtrend and managed to break the daily support @ 1.5424 and re-test it. The bears are in control and overwhelming the buyers which causing the sell pressure on the EUR/CAD.
EUR/CAD Medium-Term Trend: Bearish
On the 1-hour time frame, the pair succeeded to break the flag formation to the downside by posting a big bearish engulfing candlestick. The price might show a re-test of the lower end of the channel formation before moving to the downside toward the 1.5281 mark.
Sell Order @ 1.5371
TP 1 @ 1.5281
TP 2 @ 1.5270
Stop Loss @ 1.5416
Trade Safely 🙂