EURCAD Wave Analysis – 12 March, 2020

• EURCAD reversed from resistance area
• Likely to fall to 1.5240

EURCAD recently reversed down sharply from the resistance area lying between the resistance level 1.5600 (which reversed the price at the end of 2018), resistance level 1.5700 and the upper weekly Bollinger Band.

EURCAD is set to form the weekly Japanese candlesticks reversal pattern Shooting Star (strong sell signal) – if the pair closes this week near the current levels.

EURCAD is likely to fall further toward the next round support level 1.5240 (former resistance level from the start of 2019).