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EUR/CAD Technical Analysis - bearish ranging near 200 SMA bullish reversal

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by , 06-25-2016 at 06:34 PM (1211 Views)
      
   
Daily price is located below SMA with period 200 (200 SMA) for the primary bearish market condition with the ranging within the following support/resistance levels:

  • 1.4826 resistance located near 200 SMA on the border between the primary bearish and the primary bullish trend on the chart, and
  • Fibo support level at 1.4379 located below 200 SMA on the primary bearish area.

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If the price breaks 1.4826 resistance on daily close bar so the bullish reversal will be started,
If the price breaks 1.4379 support level to below on close bar so the primary ebarish trend will be continuing.

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