EUR/CAD - Euro Canadian Dollar, European Session - 20/11/08

19 November 2008 @ 10:10 pm EDT

1,5687. EUR CAD is in an uptrend supported by 1H exponential moving averages. EUR CAD is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. The price should find a support above 1,5600 (87 pips). The uptrend should continue to gather momentum. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,5670 - 1,5900
Supports
1,5650 - 1,5530

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