FxWirePro: EUR/CAD Trade Idea

EUR/CAD chart - Trading View 

Technical Bias: Bearish

- The pair has failed at strong trendline resistance 

- Price action has slipped below 200-DMA

- Gravestone Doji formed on the daily charts 

- Stochs and RSI are sharply lower, MACD on verge of bearish crossover on signal line

- Scope for weakness, immediate support lies at 1.50 (trendline), break below 1.50 will see dip till 1.4945 

- Retrace above 200-DMA will see upside till 1.5140

Support levels - 1.50 (trendline), 1.4945 (trendline)

Resistance levels - 1.5080 (200-DMA), 1.5145 (trendline)

Recommendation: Good to go short on upticks, SL: 1.51, TP: 1.50/ 1.4945

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.