Market Snapshots

EURCAD Wave Analysis – 21 August, 2020

EURCAD Wave Analysis – 21 August, 2020

• EURCAD broke support level 1.5600

• Likely to fall to 1.5460

EURCAD recently broke below the support level 1.5600 (low of the (a)-wave of the active short-term ABC correction 4 from the end of June – which started from the powerful resistance 1.6)

The breakout of the support level 1.5600 continues the active short-term impulse wave (c) – which belongs to the aforementioned ABC correction 4.

EURCAD is likely to fall further toward the next support level 1.5460 (target for the completion of the active wave (c)).

Article Rating