FxWirePro
Long

EUR/CAD Short term Outlook

FX:EURCAD   Euro Fx/Canadian Dollar
6 0 1
EUR/CAD has taken support at 1.4170 and has recovered from that level. It has also broken minor resistance 1.4250 (Oct 23rd high) and is expected to trade higher in the coming days.
Short term trend is bullish .On the upper side break of 1.4250 will target 1.4308/1.4350 ( 61.8% retracement of 1.44552 and 1.4159).
Minor support is around 1.4200. An indicative break below will reach 1.4150/1.4100.
Recommendation: Buy EUR/CAD around 1.4250-55, SL 1.4198, Target 1.4350.
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