EURCAD Wave Analysis – 27 July, 2020
July 27, 2020 @ 17:33 +03:00
• EURCAD broke key resistance level 1.5540
• Likely to rise to 1.5785
EURCAD recently broke above the key resistance level 1.5540 (former monthly high from May), intersecting with the 50% Fibonacci retracement of the previous downward correction from March.
The breakout of the resistance level 1.5540 accelerated the active impulse waves 3 and (3).
EURCAD is likely to rise further toward the next resistance level 1.5785 (top of the Shooting Star from March and the target for the completion of wave 3).