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EUR/CAD - Euro Canadian Dollar, European Session - 17/11/08

16 Nov, 2008 @ 09:55 pm ET | written by Mataf


1,5546. EUR CAD is in an uptrend supported by 1H exponential moving averages. The volatility is high. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. The price should find a resistance below 1,5660 (114 pips). The price should consolidate. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,5660 - 1,5800
Supports
1,5500 - 1,5340

For more forex information, go to www.mataf.net

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