EURCAD Wave Analysis 14 January, 2021

• EURCAD broke support area

• Likely to fall to 1.5300

EURCAD recently broke through the support area lying between the key support level 1.5420 (low of wave (b) from December) and the support trendline of the weekly Triangle from last year.

The breakout of this support area stopped should accelerate the active short-term impulse wave (iii).

EURCAD is expected to fall further toward the next support level 1,5300 (monthly low from November and the target for the completion of wave (iii)).