Exness_FXNews
Short

EUR-CAD reversed from resistance, possible further drop

FX:EURCAD   Euro / Canadian Dollar
EUR-CAD reversed off its resistance: a further drop is expected.

Sell below 1.5113.
Stop loss at 1.5201.
Take profit at 1.5017.

Reason for the trading strategy (technically):
EUR-CAD reversed off its resistance at 1.5113 (100% Fibonacci extension , 61.8% Fibonacci retracement , horizontal swing high resistance) where it is expected to drop further to its support at 1.5017 (50% Fibonacci retracement , horizontal swing low support).
Stochastic (55, 5, 3) reversed off its resistance at 96% where a corresponding drop is expected.
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