Service for copy trading. Our Algo automatically opens and closes trades.
The L2T Algo provides highly profitable signals with minimal risk.
24/7 cryptocurrency trading. While you sleep, we trade.
10 minute setup with substantial advantages. The manual is provided with the purchase.
79% Success rate. Our outcomes will excite you.
Up to 70 trades per month. There are more than 5 pairs available.
Monthly subscriptions begin at £58.
EURCAD Price Analysis – January 20
EURCAD selling pressure caused retreats from daily highs of 1.5452, falling towards the mid 1.5300 level. The EURCAD has plunged by 0.35% against the Canadian Dollar since the day’s start. Canadian Dollar and oil stay in the spotlight with BoC rate decision featured as the oil price stays capped.
Key Levels
Resistance Levels: 1.5785, 1.5675, 1.5550
Support Levels: 1.5313, 1.5200, 1.5000
EURCAD Long term Trend: Ranging
The EURCAD has dropped back under 1.5400 level pulling lower from the prior day’s rebound high at 1.5479 level. The oil market will remain the dominant driver of EURCAD. However, the bears are back for major control with momentum indicators such as RSI beneath its midline.
In the long term, only a pullback below 1.5313 levels could switch the outlook into a negative one under its support region. To the upside, if the pair manages to overcome the key 1.5550 resistance level, the next resistance level to be watched will be the 1.5609 level and also 1.5785 swings high level on Dec 22, 2020.
EURCAD Short term Trend: Bearish
In the short-term, the outlook remains negative since prices hold below the 1.5400 level and the moving average 5 and 13 lines as the anticipated bearish cross between the MA’s stays in place. If the ascending trendline pattern holds, bullish traders are likely to continue to pressure the price higher during the following trading sessions.
However, a support level at the 1.5313 level could provide support for the currency exchange rate today if it declines with the 4 hour RSI reaching oversold levels. Against this, the loss of recent lows near the 1.5350 level could pave the way for a deeper retracement to the 1.5300 neighborhood.
Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
