empty
 
 
16.12.2015 06:21 AM
Technical analysis of EUR/CAD for December 16, 2015

This image is no longer relevant

The EUR/CAD pair has been moving upwards providing no signs of a potential trend reversal.

The Fibonacci applied to an ascending channel breakout point shows that resistance was broken. The final target at 0% Fibonacci has not been reached, while 23.6% resistance level was broken.

As the price rejected the support area, consider buying EUR/CAD, while it is near S1 (1.4977), targeting R4 (1.5248). Stop loss should be placed well below S2 (76.4% retracement level).

Support: 1.4977, 1.4913

Resistance: 1.5028, 1.5080, 1.5144, 1.5248

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback