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EUR/CAD - Euro Canadian Dollar
Short term (Intraday)
1,6218. EUR CAD is in an uptrend supported by 4H exponential moving averages. EUR CAD is in a consolidation after the last bullish movement. Bollinger bands are flat. daily ForexSto (Modified Stochastic) indicate a bullish pressure on EUR CAD. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR CAD. The price should find a support above 1,6200 (18 pips). The uptrend should continue to gather momentum.
We could take a long position at 1,6215. We will put the stop loss below 1,6180 (-35 pips). The targets are 1,6300 (+85 pips, risk/reward 1:2.4), 1,6350 (+135 pips, risk/reward 1:3.9) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
- Resistances
- 1,6300 - 1,6350
- Supports
- 1,6200 - 1,6170
- Long term chart
- EUR/CAD - Euro Canadian Dollar
updated 03 juil 2009 05:24 GMT
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