FxWirePro: EUR/CAD breaks above 38.2% Fib, bias higher, stay long
Wednesday, October 26, 2016 7:21 AM UTC
- Bullish Butterfly completed on EUR/CAD daily charts.
- The pair has broken above 38.2% Fib at 1.4517.
- Stochs and RSI are biased higher and MACD is on verge of a bullish crossover.
- Major support levels - 1.4517 (38.2% Fib), 1.4502 (5-DMA), 1.4420 (23.6% Fib), 1.4396 (Oct 21 low)
- Major resistance levels - 1.4579 (Oct 24 high), 1.46 (20-DMA & 50% Fib), 1.4672 (61.8% Fib)
- Our previous call (http://www.econotimes.com/FxWirePro-Bullish-Butterfly-formation-on-EUR-CAD-dailies-good-to-long-dips-364170) is progressing well.
- Recommend holding for targets.