EUR/USD: another pullback from 144 MA
We've got a 'Shooting Star', so we're likely going to have a decline shortly, which means we should watch the next support...
EUR/CAD looking for the 1.5000 level to resume lower
The pair is starting to recover from losses registered almost all June and it’s looking now to retrace at least 50% of the mentioned decline. According to our Fibonacci retracement’s projections, EUR/CAD could go as long as 1.4991 and 1.5053, where sellers could be waiting for a lower reaction which could drive the pair to test the -23.6% Fibonacci retracement zone at 1.4600.
To the upside, if the pair breaks above 1.5070, then a bullish scenario could be seen and it might look to test June 2th highs at 1.5256. RSI indicator remains supported at H4 chart, confirming in some way our recovery’s outlook in the EUR/CAD pair.
Felipe Erazo
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