Weekly Chart Analysis: EUR/CAD Large Channel Setup

• EUR/CAD continues to trade within a large downward sloping channel.
• Failure analysis points to a possible break below the 2005 Low and a move toward the channels lower boundary.
• High probability setup points to a break above the channel's upper boundary.

Key Levels - Current Price: 1.4284

Level       Type              Significance
1.4937     Resistance      38.2 Fib of the 1.6694-1.3851 CAD rally
1.4522     Resistance      38.2 Fib of the 1.6694-1.3851 CAD rally and Channel's upper boundary
1.3851     Support 2005   Low

Weekly Chart 10-07-05

Daily Chart I 10-07-05

Daily Chart II 10-07-05

Daily Chart III 10-07-05

4 Hour Chart 10-07-05

Sam Shenker is a Technical Currency Analyst for FXCM.