EURCAD Wave Analysis – 02 March, 2020

• EURCAD broke resistance zone
• Likely to rise to 1.5000

EURCAD recently broke through the resistance zone lying between the key resistance level 1.4720 (which has been reversing the price from September) and the 61.8% Fibonacci correction of the previous downward impulse form August.

The breakout of this resistance zone accelerated the active impulse wave (c) of the ABC correction 4 from last October.

EURCAD is likely to rise further toward the next round resistance level 1.5000 (former multi-month high from August).