EUR/CAD - Euro Canadian Dollar, European Session - 02/02/09

 @ibtimes
on February 01 2009 10:10 PM

1,5693. EUR CAD is in an downtrend directed by 1H exponential moving averages. EUR CAD is in a consolidation after the last bearish movement. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue on 1,5400 support (293 pips).

Resistances
1,5780 - 1,5930
Supports
1,5650 - 1,5500

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