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    Technical analysis of EUR/CAD for July 17, 2015

    According to my previous EUR/CAD analysis, after multiple bouces off the S1 (1.3983), this level is clearly acting as a strong support, which was rejected throughout this week over and overafter multiple bouces off the S1 (1.3983).

    Today could be a day when a rally finally begins, and EUR/CAD still offers a very attractive price to buy. It seems very reasonable to get into a long trade right now targeting R2 (1.4640) area, whith the stop loss just below S1 (1.3983).

    Support: 1.3983, 1.3868

    Resistance: 1.4161, 1.4639

    eurcad-h4-instaforex-group-2.png

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