EURCAD Wave Analysis – 19 February, 2020

• EURCAD broke key support level 1.4460
• Likely to fall to 1.4200

EURCAD recently broke sharply through the key support level 1.4460 (which has been reversing the price from the middle of 2017 as can be seen below).

The breakout of the support level 1.4460 accelerated the active short-term impulse wave 3 of the weekly downward impulse sequence (3) from the start of 2019.

EURCAD is likely to fall further toward the next support level 1.4200 (target price for the completion of the active impulse sequence (3))).