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EUR/CAD – Will the Pair Drop Today?

The pair has been escalating since the 17th of April, 2015 with the buyers having placed tremendous bullish pressures, giving no option whatsoever to the sellers of re-tracing the price slightly to the downside.
Looking at today’s chart, June 4, 2015, the pair has been making some considerable strong attempts to retrace to the downside without any success though. The major resistance level for today’s session is 1.4040.
In the scenario where the price drops, bears could lock their profits either at 1.3806 and 1.3655 respectively. All stop losses can be placed at 1.4109.



Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.


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