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.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera