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EUR/CAD (H4): Trend Line Stops the Bulls

Forecast: Targeting the key support 1.407-1.409

Alternative Scenario: Breaking above the trend line – move to resistance 1.429

Comments: The pair remains in the downside

Signal: PUT from 1.418, expiring at 21:00GMT, 73% return

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Member and editor of Finance Magnates - the biggest FX, and binary options B2B website. A graduate of the University of Economics in Krakow, active publicist since 2012. Technical analysis is always more important to him than the fundamentals – however, he does not reject the importance of macro data. As he assumes that, the simpler the better, he is a strong fan of Price Action trading strategy and Fibonacci retracements.