The EUR has dropped significantly versus the CAD in the last week, and it is currently traded around 1.3440. And now as evident in the data, the 8-hour chart is giving bullish signals, indicating that EUR/CAD pair might go up, as a bullish cross has taken place on the Slow Stochastic and the cross may raise another 50-100 pips in the coming 2 days. Traders are strongly advised to take advantage of the trend at an early stage. Therefore, why not open long positions at an excellent price?
• The next resistance levels are found at the 1.3470, 1.3500 and 1.3530 levels.
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Anton Eljwizat is a Currency Analyst with ForexYard. His experience in writing technical analyses for trading companies such as ForexYard has helped Anton stand out among other analysts. His understanding of technical indicators and chart analysis helps him provide some of the most groundbreaking analysis in the market today. His writings have been published on the ForexYard Trading Blog and affiliate websites. Anton holds a degree in Business Management from Ryerson University as well as a degree in Finance from Centennial College in Canada.
