EUR/CAD Long-Term Trend: Bearish
Key Resistance Levels: 1.3619, 1.3655, 1.3750
Key Support Levels: 1.3544, 1.3495, 1.3442
The price on the higher time frame has been in a downtrend for the last few months with occasional pullbacks. The price has formed a lower high formation and there are a few rejection wicks from the upside that indicates further continuation in the trend.
EUR/CAD Medium-Term Trend: Bearish
On the lower time frame, the pair is moving in the major trend’s direction. The price has shown rejection from the upside and broke minor support of 1.3619. We see the price did a retest to that level and now continuing the momentum.
Sell Stop Order @ 1.3594
TP 1 @ 1.3550
TP 2 @ 1.3506
Stop Loss @ 1.3638
Trade Safely 🙂