The EURCAD is displaying a bearish jump candle at the beginning of the trade week of 15 Dec 14 at a significant resistance zone signalling a continuation of the bear trend from March 2014. The 1.44 resistance level has showed significant resistance multiple times from 2010.
Because of this we can expect a high probability of a move back to the bottom of the trading range of 1.4000 before experiencing the next significant level of resistance. A break through this level exposes the 61.8% retraceme…
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