EURCAD Could test 1.46 if resistance is established at 1.52

Price has been trending strongly on declining momentum and a top looks to have been formed for the moment. 1.52 - 1.516 is a key zone to watch for. More importantly, the minor support at 1.52 - 1.5203 that has been formed. If resistance is established here, EURCAD could decline down to 1.46. RR is very favorable, but due to thin trading conditions, exit only on a Close above 1.532.

Commentaire:

Adding the Median line, the price levels look more clear with the ML likely to act as a price guide on the expected decline.

Transaction en cours:

Trade in play..

Transaction en cours:

Move stops to 1.5277