EUR/CAD Price Long-Term: Bearish
Key Resistance Levels: 1.4896, 1.4915, 1.5222
Key Support Levels: 1.4755, 1.4500, 1.4250
The coin is in a clear downtrend where it is breaking all the daily supports and it is posting lower lows and highs. Currently, it succeeded to break the 1.4896 USD mark, and we are expecting to post a correction before the continuation of the main trend to the downside.
EUR/CAD Medium-Term Trend: Bearish
On the 4-hr time frame, the price is trading within a bearish pennant pattern where we expect the price to stall near the trendline resistance. This move might lead to a breakout of the pennant to the downside and reach the previous low.
Sell Limit Order @ 1.4914
TP 1 @ 1.4852
TP 2 @ 1.4755
Stop Loss @ 1.4940
Trade Safely 🙂