EURCAD Wave Analysis – 08 Janaury, 2019
January 08, 2019 @ 22:31 UTC
- EURCAD broke support area
- Further losses are likely
EURCAD recently broke through the support area lying between the key support level 1.5300 (former resistance from September and December) and the 50% Fibonacci correction of the previous sharp upward impulse from October.
The breakout of this support area accelerated the active impulse wave (i) – which belongs to wave C of the long-term ABC correction (4) from last year.