EUR/CAD Long-Term Trend: Bearish
Key Resistance Levels: 1.3501, 1.3621, 1.3757
Key Support Levels: 1.3301, 1.3222, 1.3147
The price on the higher time frame has been in a downtrend for months. The pair traded in a range for some time between 1.4185 and 1.4628 and then it broke the lower range. As of now, the price has faced resistance at the 1.3775 level and continued the trend.
EUR/CAD Medium-Term Trend: Bearish
On the lower time frame, the pair is moving in the major trend’s direction while making lower highs. The price recently retested a resistance level of 1.3501 and continued the trend. A minor support level of 1.3416 has also been broken and retested which indicates a bearish bias.
Sell Stop Order @ 1.3385
TP 1 @ 1.3309
TP 2 @ 1.3233
Stop Loss @ 1.3461
Trade Safely 🙂