EUR/CAD - Euro Canadian Dollar, European Session - 09/05/08
1,5618. EUR CAD broke 1,5580 resistance. EUR CAD is in an downtrend directed by 4H exponential moving averages. EUR CAD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. Oscillators are neutral. The consolidation should continue. The price should continue to move in 1,5400 / 1,5700 range. We won’t take a position. The risk/reward ratio is too high to take a position..
- Resistances
- 1,5675 - 1,5700
- Supports
- 1,5600 - 1,5520
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