Richard is a full time trader with 12 years experience that includes working as an equities day trader at a trading floor in Cape Town.
Good day traders! EUR/CAD continues selling off and my first target at 1.4541 has already been reached.
Price is currently approaching this year January’s low at 1.4450 which I expect will be taken out, with last year’s October low at 1.4414 not far below there.
My blue downward-sloping pitchfork’s lower median line aligns with last year’s low and I do expect some profit taking soon but any correction higher could present another selling opportunity.
Potential Support Level: 1.4414
Potential targets: 1.4450 and 1.4414
Until next time, happy and safe trading!