Technical Analysis of EUR/CAD for April 06, 2016

Technical Analysis of EUR/CAD for April 06, 2016

6 April 2016, 12:47
Roberto Jacobs
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Technical Analysis of EUR/CAD for April 06, 2016

According to my yesterdays' analysis, EUR/CAD started moving higher after rejecting the S1 (1.4850)support and the 200 Moving Average. Pair broke above R1 (1.4960) once again confirming a bullish trend.

Consider holding on entering long positions from the current level targeting R2 (1.5130) resistance, which is 0% retracement level of the Fibonacci applied to the channel breakout point. The stop loss should be just below S1 (1.4850).

Support: 1.4850, 1.4760, 1.4670

Resistance: 1.4960, 1.5130


EURCAD_INSTA


The material has been provided by InstaForex Company - www.instaforex.com


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