Categories: Technical analysis

EURCAD Wave Analysis – 08 April, 2020

  • EURCAD reversed from support area
  • Likely to rise to 1.5400

EURCAD recently reversed up from the support area located between the key support level 1.5200 (former multi-month resistance level from the start of 2019) intersecting with the 38.2% Fibonacci retracement of the pervious upward impulse from the start of 2020.

This is the second time the pair reversed up from this support zone from the start of this year.

EURCAD is likely to rise further toward the next resistance level 1.5400 (former support from the end of March). Strong support remains at the support level 1.5200.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: EURCAD

Recent Posts

GBPUSD Wave Analysis 14 November 2024

- GBPUSD reversed from strong support level 1.2665 - Likely to rise to resistance level…

5 hours ago

USDCAD Wave Analysis 14 November 2024

- USDCAD broke resistance level 1.3950 - Likely to rise to resistance level 1.4050 USDCAD…

5 hours ago

The dollar has reached range limits

The US dollar has strengthened, reaching the upper boundary of its trading range. The British…

7 hours ago

Crypto: Tug-of-war at new altitude

Cryptocurrencies continued to surge, pushing the total cap to $3 trillion. Bitcoin has gained nearly…

8 hours ago

USDJPY Wave Analysis 13 November 2024

- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…

1 day ago

USDJPY Wave Analysis 13 November 2024

- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…

1 day ago

This website uses cookies