EUR/CAD 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A sharp rally performed by EUR/CAD is likely to remain restricted by the limits of the tunnel within which the pair has been vacillating since January 6. At the moment of writing, the currency couple was retreating from a four-year high of 1.5270; however, a slump may be halted in the foreseeable future given that 71.43% of traders are bullish on the pair. To confirm the traders' expectations, EUR/CAD will have to break through the bunch of four-hour resistances at 1.5183/2245 that if overcome will open the way for more formidable resistance at 1.5250 (daily R1).
© Dukascopy Bank SA
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