easyMarkets
Short

EURCAD approaching resitance, potential drop!

FX:EURCAD   Euro / Canadian Dollar
EURCAD is approaching our first resistance at 1.5224 (horizontal swing high resistance, 61.8% extension, 50% Fibonacci retracement ) where a strong drop might occur below this level pushing price down to our major support at 1.5108 (61.8% Fibonacci retracement , 61.8% Fibonacci extension ).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
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Losses can exceed the initial investment so please ensure you fully understand the risks.

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