Trade of the Day: EUR/CAD

Get the Autochartist Trade of the Day on your Mobile!

Join our Telegram Channel now!

ChartViper Trade of the Day

EUR/CAD recently broke the key support level 1.4514, which was earlier identified by Autochartist. Autochartist rates the Significance of this support level at the 3-bar level – which is the result of the three earlier reversals from this price level. EUR/CAD is expected to fall toward the forecast price 1.4484 – in line with the earlier downward reversal from the key resistance level shown below.

As can be seen from the daily EUR/CAD chart below – the pair earlier reversed down from the resistance zone located between the key resistance level 1.4600 (previous monthly high from December) intersecting with the upper daily Bollinger Band. The proximity of this resistance area, overbought daily Stochastic add to the probability EUR/CAD will continue to fall toward the forecast price 1.4484.

Want to get full Autochartist Access?

  • Autochartist Market Scanner
  • Autochartist Market Reports
  • Autochartist Mobile App (QR Code)
  • Full Autochartist Web App
  • Volatility Analysis

Subscribe here: ChartViper Subscriptions