EURCAD Wave Analysis – 20 March 2025

EURCAD: ⬇️ Sell

– EURCAD reversed from the resistance zone

– Likely to fall to support level 1.5400

EURCAD currency pair recently reversed sharply from the resistance zone between the key resistance level 1.5800 (former major resistance from 2020) and the resistance trendline of the weekly up channel from 2022.

The downward reversal from this resistance zone will likely form the daily Japanese candlesticks reversal pattern Evening Star.

Given the strength of the resistance level 1.5800, EURCAD currency pair can be expected to fall to the next support level 1.5400.