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 toward the channel's lower boundary
• Failure analysis points to a move above the channel's s upper boundary

Key Levels - Current Price: 1.3827

Level    Type            Significance
1.5960   Resistance   23.6 Fib of the 1.2582-1.7003 EUR rally
1.5314   Resistance   38.2 Fib of the 1.2582-1.7003 EUR rally
1.4793   Resistance   50.0 Fib of the 1.2582-1.7003 EUR rally
1.4271   Resistance   61.8 Fib of the 1.2582-1.7003 EUR rally
1.3521   Support        78.6 Fib of the 1.2582-1.7003 EUR rally
1.3000   Support        Channel's Lower boundary and
1.2582   Support        2001 Low and start of the 1.2582-1.7003 EUR rally

Weekly Chart

Daily Chart I

Daily Chart II

Daily Chart III


Sam Shenker is a Technical Currency Analyst for FXCM.