EUR/CAD Long-Term Trend: Bearish
Key Resistance Levels: 1.3454, 1.3513, 1.3598
Key Support Levels: 1.3332, 1.3259, 1.3189
The price on the higher time frame has been in a downtrend for some time and recently it consolidated for some time and faced resistance at 1.3702 level. The pair has broken the lower trendline which indicates a bearish bias.
EUR/CAD Medium-Term Trend: Bearish
On the lower time frame, the pair is moving in the major trend’s direction. The broke a consolidation zone of 1.3598 and 1.3513 to the lower side with good momentum. As of now the pair has broken and retested the 1.3454 level before continuing the momentum.
Sell Stop Order @ 1.3401
TP 1 @ 1.3340
TP 2 @ 1.3218
Stop Loss @ 1.3462
Trade Safely 🙂