The EURCAD under the negative pressure – Forecast today – 26-4-2024

EURCAD Price Analysis

Expected Scenario

• The EURCAD price repeated the negative closings below 50% Fibonacci correction level at 1.4807, to confirm its surrender to the domination of the bearish bias and notice forming negative crawl recently to settle near 1.4580.
• Now, stochastic crawl below 50 level will increase the negative pressures on the price, allowing us to suggest more negative attempts by targeting the MA55 first at 1.4485, while breaking it might extend losses towards 1.4355 on the medium-term basis.

Expected Trading Range

Between 1.4730 and 1.4500