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
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