EUR/CAD Long-Term Trend: Bearish
Key Resistance Levels: 1.3747, 1.3835, 1.3982
Key Support Levels: 1.3605, 1.3539, 1.3428
The price on the higher time frame has been in a downtrend for weeks with occasional pullbacks. The pair first broke the support zone of 1.4162 and sustained below that level. The price did another pullback and faced resistance at the 1.3973 level and now continuing the trend.
EUR/CAD Medium-Term Trend: Bearish
On the lower time frame, the price is moving in the major trend direction. The pair is moving in a lower-low, lower-high pattern and it has faced resistance at the 1.3737 level. We see that the price first broke down and retested before continuing the trend’s momentum.
Sell Stop Order @ 1.3673
TP 1 @ 1.3608
TP 2 @ 1.3543
Stop Loss @ 1.3738
Trade Safely 🙂