Tickmill
Long

EURCAD approaching support, potential bounce!

FX:EURCAD   Euro / Canadian Dollar
EURCAD is approaching our first support at 1.5031 (horizontal overlap support, 61.8% fibonacci retracement , 100% fibonacci extension ) where a strong bounce to our major resistance at 1.5172 (horizontal swing high resistance, 76.4% fibonacci retracement ) might occur.
Stochastic is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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This analysis is provided as general market commentary and does not constitute investment advice.

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