EURCAD reached its daily peak precisely at 1.4431, after forming a low reliability bullish pattern Harimi Bullish two days prior, only to experience a sharp downturn shortly after. Although the instrument managed to regain some of the losses and to return nearly to its opening position, both MACD and RSI are showing strong SELL signals, indicating that the bulls did not manage to gain enough momentum. If the current trend continues, the price might reach levels of 1.4411 and 1.4406. In the opposite scenario, as pivot point might be considered 1.4424, from where the price might reach levels of 1.4432.
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Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.