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EURCAD approaching resistance, potential drop!

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Euro / Kanadensisk dollar (FX:EURCAD)  
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FX:EURCAD   Euro / Kanadensisk dollar
Harmonic Patterns Chart Patterns Trend Analysis EUR CAD EURCAD eurcadlong eurcadshort Forex forextrading forexsignal
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harmonicpatterns chartpattern trendanalysis eur cad eurcad eurcadlong eurcadshort forex forextrading forexsignal
EURCAD is approaching our first resistance at 1.5193 (horizontal overlap resistance, 61.8% fiboancci retracement) and a strong drop might occur below this level pushing price down to our major support at 1.5116 (Horizontal swing low support, 61.8% Fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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