Wed, 16 Jul 2014 12:20:09 GMT
EUR/CAD 4H Chart: Channel Down
The market has been bearish since the second half of March, when EUR/CAD turned around ahead of 1.56. Now there is a downward-sloping channel emerging on the four-hour chart. The currency pair should thus be capped by a cluster of resistances between 1.4600 1.4650 (down-trend, weekly R1, Jul 14 high and 200-period SMA) and instead target the lower boundary of