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FX.co ★ EUR/CAD Testing Support, Prepare For A Bounce

EUR/CAD Testing Support, Prepare For A Bounce

EUR/CAD is approaching its support at 1.4849 (100%, 61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where price is expected to bounce up to its resistance at 1.4920 (38.2% Fibonacci retracement, horizontal pullback resistance).

Stochastic (55, 5, 3) is approaching its support at 2.3% where a corresponding bounce is expected.

EUR/CAD is testing its support where we expect to see a bounce.

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Buy above 1.4849. Stop loss at 1.4797. Take profit at 1.4920.

EUR/CAD Testing Support, Prepare For A Bounce

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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