The Euro was seen trading higher against the Canadian dollar yesterday, but it struggled to break a key resistance area around the 1.4145 level. There were a couple of economic releases scheduled during the London session, including the German and Euro zone services PMI. The German services PMI came better than expected, and registered a rise from 54.9 to 55.5. The Euro zone services PMI was released next, which came as a disappointment and declined from 53.1 to 52.4. The Euro was seen struggling against the US dollar after the release, and the EURCAD pair was not affected as much as it should have. There is a critical bearish trend line formed on the hourly chart of the EURCAD pair, which is acting as a barrier for the pair. The most important point to note here is that the 200 hourly moving average is sitting right around the mentioned trend line, which means the Euro buyers might face a tough time to break the 1.4145 level. Currently, the pair is testing the 23.6% fib retracement level of the last leg from the 1.4012 low to 1.4148 high. So, there is a chance that the pair might bounce from the current levels towards the highlighted resistance area one more time. It would be interesting to see how it reacts in that situation. If the pair fails to break the 1.4145 level, then it might dive towards the 50% fib retracement level which is currently around the 1.4079 level. Overall, one might consider selling right around the 200 hourly moving average with a stop above the trend line resistance area. ————————————- Posted By Simon Ji of IKOFX Guest Guest View All Post By Guest Forex News Today: Daily Trading News share Read Next EUR/USD Oct. 3 – Draghi effect waning ahead of the NFP Yohay Elam 8 years The Euro was seen trading higher against the Canadian dollar yesterday, but it struggled to break a key resistance area around the 1.4145 level. There were a couple of economic releases scheduled during the London session, including the German and Euro zone services PMI. The German services PMI came better than expected, and registered a rise from 54.9 to 55.5. The Euro zone services PMI was released next, which came as a disappointment and declined from 53.1 to 52.4. The Euro was seen struggling against the US dollar after the release, and the EURCAD pair was not affected as much… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.