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Long

EUR/CAD trades higher on low price, jump till 1.4020 is possible

FX:EURCAD   Euro / Canadian Dollar
164 0 5
EUR/CAD recovered from the low of 1.3808 yesterday on account of weak crude oil             prices.

Oil             price hit two month low yesterday on US inventory data. US stockpiles rose last week for the first time in nine weeks, according to report from EIA             .

Technically it is facing resistance around 1.3940 and any break of would extend gains till 1.4025/1.40533.

On the downside weakness only below 1.3865 and break of will target 1.3800 level.

It is good to buy at 1.3925-30 with SL around 1.3865 for TP of 1.4020/1.4050.
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