Large Channel Setup in EUR/CAD Currency Pair

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By Jamie Saettele | Published 12/9/2005 | Currency | Unrated

Large Channel Setup in EUR/CAD Currency Pair

Weekly Chart Analysis: EUR/CAD Large Channel Setup

EUR/CAD continues to trade within a Large Channel
High probability setup points to a possible move to the 61.8 Fib of the 1.2435-1.7214 EUR rally
Failure analysis points to a move a break above the Channel's upper boundary

Key Levels - Current Price: 1.3673

Level    Type          Significance
1.4825   Resistance 50.0 Fib of the 1.2435-1.7214 EUR rally
1.4261   Resistance 61.8 Fib of the 1.2435-1.7214 EUR rally
1.3457   Support      78.6 Fib of the 1.2435-1.7214 EUR rally
1.2435   Support      Multi-Year Low

Weekly Chart 12-09-05

Daily Chart 12-09-05

Sam Shenker is a Technical Currency Analyst for FXCM.

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