EUR/CAD is ready for a move
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Trade ideas
BUY 1.4730; TP 1.4830; SL 1.4710
SELL 1.4690; TP 1.4650; SL 1.4705
EUR/CAD has formed a couple of higher lows since October. The pair has managed to overcome the 50- and the 100-day MAs at 1.4588 and 1.4640 respectively. It approached the highs of September and October in the 1.4720 area. A break above this resistance zone will lead the price to a higher range and open the way up to 1.4835/55 (200-day MA, 200-week MA). On the downside, a return below 1.4700 will open the way down to 1.4640. The pair may experience volatility on Wednesday due to the release of inflation figures in Canada at 15:30 MT time.
