EUR/CAD is likely to rise to the target level 1.3277 in the next 19 hours. The pair previously broke up through the resistance trendline of the daily Ascending Triangle chart pattern from the 25th of April. Autochartist sets the stop-price for this move at 1.2715 (A, which is the last turning point of the broken Ascending Triangle).
The pair had earlier reversed sharply up from the round price level 1.2200. The upward impulse from 1.2200 recently broke the 2 long-term downward resistance trendlines from the end of 2008 and from the end of 2009 respectively (as can be seen from the second chart below). The upward sloping moving average adds to the probability that the pair will rise toward the Forecast Price 1.3277 in the next 19 hours.
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The weekly EUR/CAD chart below shows the aforementioned technical price levels:
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