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Daily Forex Update: EUR/CAD

Published 02/21/2014, 02:08 AM
Updated 03/09/2019, 08:30 AM
EUR/CAD
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EUR/CAD continues to rise after the recent breakout of the 4-hour Double Bottom chart pattern that was earlier identified by Autochartist – as you can see from the following trade opportunity alert for this currency pair. EUR/CAD is expected to rise further to the target level 1.5290 in the next 2 trading days. The stop-level for this forecast is set by Autochartist at 1.4901 (point A). This point formed when the price corrected up from the support level 1.4900 (which has been reversing the price up from the start of this month) standing close to 38.2% Fibonacci Correction of the earlier upward impulse from January (as you can see on the second chart below)

EURCAD  1

The following daily EUR/CAD chart shows the aforementioned support levels:

EURCAD 2

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