EURCAD approaching resistance, potential drop!

EURCAD is approaching our first resistance at 1.5050 (horizontal swing high resistance, 76.4% fibonacci retracement, 100% fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 1.4908 (horizontal swing low support, 100% fibonacci extension, 76.4% fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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