EURCAD is approaching our first resistance at 1.5059 (horizontal swing high resistance, 23.6% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 1.4853 (horizontal swing low support, 100% Fibonacci retracement). Stochastic (21,5,3) is also approaching resistance and we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.