EURCAD Wave Analysis – 14 July, 2020

• EURCAD broke resistance area

• Likely to rise to 1.5540

EURCAD recently broke through the resistance area located between the key resistance level 1.5430 (top of the previous waves 1 and (i)) and the 38.2% Fibonacci correction of the earlier downward correction from March.

The breakout of this resistance area accelerated the active impulse waves (iii), 3 and (3).

EURCAD can be expected to rise further toward the next resistance level 1.5540 (top of the impulse wave (1) from the start of May).