EURCAD approaching resistance, potential drop!
Price is approaching our first resistance at 1.5120 (horizontal pullback resistance, 23.6% Fibonacci retracement) where price might drop to its support at 1.4821 (horizontal swing low support, 61.8% Fibonacci extension, 78.6% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (89) is seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (89) is seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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