EURCAD Wave Analysis – 13 February, 2020
February 13, 2020 @ 17:48 +03:00
- EURCAD broke multi-month support level 1.4460
- Likely to fall to 1.4300
EURCAD recently broke sharply through the strong multi-month support level 1.4460 (which has been reversing the price from the start of September).
The breakout of the support level 1.4460 accelerated the active short-term impulse wave 5 of the medium-term impulse sequence (3) from the start of 2019.
Given the strength of the daily downtrend – EURCAD is likely to fall further toward the next support level 1,4300 (target for the completion of the active impulse wave 3).