As per my previous EUR/CAD
analysis, the price bounced off the S1 (1.3866) support and started to move higher.
Although a high of 1.4162 hit back on June 4 has not been broken, the uptrend is beyond any doubt.
Currently, the pair is tradign
right at the area near 1.4015 and this is where bulls should
start openning long trades. In overall, this is the second opportunity to join an uptrend train. So, consider buying EUR/CAD near 1.4020 today targeting 161.8%
Fibs, that is R2 (1.4640) area.
Support: 1.3866, 1.3775
Resistance: 1.4162, 1.4640
The material has been provided by InstaForex Company – www.instaforex.com