EURCAD Wave Analysis 17 July 2024

– EURCAD broke key resistance level 1.4920

– Likely to rise to resistance level 1.5040

EURCAD currency pair recently broke above the key resistance level 1.4920, which stopped the previous correction (2) at the start of June.

The breakout of the resistance level 1.4920 greatly accelerated the active impulse wave c of the ABC correction 2 from the end of last month.

Given the rising euro bullish sentiment, EURCAD currency pair can be expected to rise further to the next resistance level 1.5040 (former multi-month high from November).