Main Quotes Calendar Forum
flag

FX.co ★ EURCAD facing bearish pressure, potential for further downside!

parent
Forex Analysis:::2021-04-12T09:59:14

EURCAD facing bearish pressure, potential for further downside!

EURCAD facing bearish pressure, potential for further downside!

Price is holding below the moving average resistance, showing bearish pressure in line with our bearish bias. We could potentially see price reverse at our 1st resistance, which is in line with our 61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal pullback resistance, and face further downside towards 1st support, in line with our 50% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing low support.

Trading Recommendation

Entry: 1.49509

Reason for Entry:

61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal pullback resistance

Take Profit: 1.48953

Reason for Take Profit:

50% Fibonacci retracement, 61.8% Fibonacci extension and horizontal swing low support

Stop Loss: 1.49917

Reason for Stop Loss:

161.8% Fibonacci extension and horizontal swing high resistance

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...