Looking at the EUR vs CAD using the Ichimoku system we can see that price has bounced off of the bottom of the Kumo Cloud. The bottom of the cloud is resistance at the 1.32380 mark. Also we have Fib levels drawn in and the 50% retracement level is in confluence with the bottom of the cloud giving us even more reason to believe the resistance level will hold. The 100 period MA which is the blue line on the chart is also sloping downwards which indicates we are in a trend to the down side. Stop loss has been placed just below the 100 MA and first profit target is at the last point of support. If this level is violated then we will look for our second profit target at 1.29879. Happy Trading and God bless!