Currently, EUR/CAD is trading at 1.5586. The pair is trading above the channel resistance level , It can move below resistance level to start a new down trend in the channel. So, accordingly plotted entry levels and target price. If the price breaks resistance level at 1.5531 inside the channel, then the price will enter into the downward channel and start a new down trend. Then its target price will be the support level of channel at 1.5350.
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Rishikesh Lilawat
Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.
