EUR/CAD - Euro Canadian Dollar, European Session - 01/07/08

  @ibtimes on

1,6052. 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, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR CAD. The price should find a resistance below 1,6100. If the resistance is broken then the target will be 1,6250 (200 pips).
We are waiting for a break of resistance to take a long position.

Resistances
1,6100 - 1,6150
Supports
1,6025 - 1,5980

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