EUR/CAD looking for the 1.5000 level to resume lower

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.



Bitcoin (BTC/USD) opening the doors for a lower extension

As we had anticipated in previous reports, Bitcoin has finally made a break of the important level of support at 12,852 and is now on track to reach the Fibonacci level of 0% at 10,680, which could mean a bearish continuation that will allow to…


Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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