Downward movement in EUR/CAD is continuing after it broke below support in the last week. It is likely that today's session will bring fifth downward candle in a row. Supply should test 1.4520 area, where price needs only 80 pips to achieve that level. That level is the nearest strong support and 40 pips lower there is a 78.6% Fibonacci retracement of previous upward movement.
You can't expect that this level will make trend reversal, but at least some rebound should occur. Next strong support is located at 1.4050 and nearest resistance is at 1.4830.
Time-frame H4
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.