Monday, March 19, 2007

EUR/CAD - 60 MIN CHART
A STRONG SUPPORT AT 1.5600



This pair having a strong support at 1.5600 and it is the 23.6% fibo support of 1.5338 to 1.5682. Well 1.5682 is the cluster resistence (1.618% of 1.5535 to 1.5338 at 1.5654) where i label it has Wave 5, but still no confirmation. A break below 1.5600 will signal the Wave 5 to at 1.5682. The next support comes at 1.5567 which is the 61.8% fibo support of 1.5496-1.5682 (on charts see the end of W4 to W5 top).