FXstreet.com (San Francisco) - EUR/CAD traded a broad range between 1.2385 and 1.2494 Friday, and ended the NA session at 1.2400, just a few pips below its starting price. The 55-day EMA (1.2434) attracted sellers, as did the 38.2% Fibonacci resistance level at 1.2450 (1.2977/1.2126). Price may hold downside scope as the mentioned intraday range completely engulfed the range of the previous day, and as an outside day “Pin” has formed on the daily chart.
EUR/CAD May 20 at 06:16 GMT
1.3206/08 (-0.01%)
H1.3214 L 1.3182
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Any opinions, news, research, analyses, prices or other information contained on this story, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
