InstaForex - Analytics

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    EUR/CAD rally has begun

    As per my previous EUR/CAD analysis, the price bounced off the S1 (1.3866) support and started to move higher. Although a high of 1.4162 hit back on June 4 has not been broken, the uptrend is beyond any doubt.

    Currently, the pair is tradign right at the area near 1.4015 and this is where bulls should start openning long trades. In overall, this is the second opportunity to join an uptrend train. So, consider buying EUR/CAD near 1.4020 today targeting 161.8% Fibs, that is R2 (1.4640) area.

    Support: 1.3866, 1.3775

    Resistance: 1.4162, 1.4640

    eurcad-h4-instaforex-group-2.png

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