Categories: Technical analysis

EURCAD Wave Analysis 12 May, 2021

• EURCAD broke support area

• Likely to fall to support level 1.4500

EURCAD recently broke the support area lying between the support level 1.4665 (low of the previous impulse wave 1) and the support trendline of the wide daily down channel from last August.

The breakout of this support area accelerated the active impulse wave 3 – which belongs to the long-term sharp downward impulse sequence (5) from last month.

EURCAD is likely to fall toward the next support level 1.4500 (forecast price for the completion of the active impulse wave 3).

The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

Share
Published by
The FxPro News Team

Recent Posts

AUDJPY Wave Analysis – 5 December 2025

AUDJPY: ⬆️ Buy - AUDJPY broke long-term resistance level 102.30 - Likely to rise to…

1 hour ago

Aptos Wave Analysis – 5 December 2025

Aptos: ⬇️ Sell - Aptos testing major support at 1.688 - Likely to fall to…

1 hour ago

Pro News Weekly: Market Shake-Up, Dollar Drops, Gold Surges, Bitcoin Wobbles!

Welcome to Pro News Flash! 💵 The U.S. dollar slips 🏆 Major stock indices struggle…

7 hours ago

Solana Wave Analysis – 5 December 2025

Solana: ⬇️ Sell - Solana reversed from resistance zone - Likely to fall to support…

8 hours ago

EURAUD Wave Analysis – 5 December 2025

EURAUD : ⬇️ Sell - EURAUD broke the support level 1.7600 - Likely to fall…

8 hours ago

Forex has set its priorities

In 2026, experts favour the yen, see modest euro growth, and expect pressure on the…

12 hours ago

This website uses cookies