EURCAD is approaching our first resistance at 1.5189 (horizontal overlap resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 1.4991 (horizontal overlap support, 50% Fibonacci retracement). Stochastics (89,5,3) is also approaching resistance and a reaction below this level might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.