Categories: Technical analysis

EURCAD Wave Analysis – 17 May, 2022

• EURCAD reversed from support level 1.3400
• Likely to rise to 1.3600

EURCAD today reversed up from the strong support level 1.3400 (which stopped the previous sharp downward impulse wave 3 at the end of last month).

The upward reversal from the support level 1.3400 will most likely form the daily candlesticks reversal pattern Morning Star.

Given the moderate euro bullishness seen today – EURCAD can be expected to rise further toward the next resistance level 1.3600.

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

The dollar has reached range limits

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

2 hours ago

Crypto: Tug-of-war at new altitude

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

2 hours ago

USDJPY Wave Analysis 13 November 2024

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

22 hours ago

USDJPY Wave Analysis 13 November 2024

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

22 hours ago

WTI crude Wave Analysis 13 November 2024

- WTI crude oil reversed from the multi-year support level 66.70 - Likely to rise…

22 hours ago

Japanese inflation continues to rise

Japanese inflation is rising, with corporate goods prices inflation accelerating to 3.4% y/y in October,…

1 day ago

This website uses cookies