EUR/CAD recently fell strongly after breaking the daily Rising Wedge that was previously identified by Autochartist – as you can see from the following trade opportunity alert for this currency pair. The price is expected to fall to the target level 1.4994 in the next 2 trading days. The stop-level for this forecast is set at 1.5582. EUR/CAD recently corrected shortly up from the support level 1.5127 (point A) and is expected to fall further – continuing the previous strong downward impulse from the resistance area set between round resistance level 1.5500, 61.8% Fibonacci Correction of monthly impulse from 2008 and the upper monthly Bollinger Band (as you can see on the second chart below).
The following monthly EUR/CAD chart shows the aforementioned resistance levels