EURCAD Wave Analysis – 12 June, 2020

• EURCAD reversed from resistance zone

• Likely to fall to 1,5200

EURCAD today reversed down from the resistance zone located between the key resistance level 1,5385 (which reversed the price in May and at the start of June), upper daily Bollinger Band and the 61,8% Fibonacci correction of the previous downward impulse from the start of May.

The downward reversal from this resistance zone stopped the earlier ABC correction 2 from the start of June.

EURCAD is likely to fall further in the active minor impulse wave 3 toward the next support level 1,5200.