17.07.201511:02 Forex Analysis & Reviews: Technical analysis of EUR/CAD for July 17, 2015

Long-term review

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According to my previous EUR/CAD analysis, after multiple bouces off the S1 (1.3983), this level is clearly acting as a strong support, which was rejected throughout this week over and overafter multiple bouces off the S1 (1.3983).

Today could be a day when a rally finally begins, and EUR/CAD still offers a very attractive price to buy. It seems very reasonable to get into a long trade right now targeting R2 (1.4640) area, whith the stop loss just below S1 (1.3983).

Support: 1.3983, 1.3868

Resistance: 1.4161, 1.4639

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