EURCAD reacting below descending trendline resistance.A short term drop below our 1st resistance at 1.47503 towards recent swing low and 1st support at 1.47044 could be expected. Stochastic is reacting below resistance as well where price pulled lower in the past.
Trading Recommendation
Entry: 1.47503
Reason for Entry:
61.8% Fibonacci retracement, Descending trendline resistance
Take Profit: 1.47044
Reason for Take Profit:
Graphical swing low support
Stop Loss: 1.47779
Reason for Stop Loss:
Graphical swing high
