EUR/CAD: Trade ideas for Sep. 19

   Felipe Erazo

The EURCAD is consolidating above the support level of 1.4115, because this pair is below the 200 EMA on the H1 chart (green line). However, the EURCAD could begin to make a bullish retracement to the level of 1.4225 (50.0 Fibo retracement level).

If this pair can make a pullback in that level, would be expected to fall again to the support level of 1.4115. However, if the EURCAD manages to make a breakout at the 1.4115 level, it would be expected to fall down to the level of 1.4050. The RSI indicator is entering neutral territory.

Trading recommendations: Place sell orders if the EURCAD does a pullback at the resistance level of 1.4225, with take profit at 1.4115.

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