EURCAD Wave Analysis – 20 November, 2019

• EURCAD reversed from resistance level 1,470
• Likely to fall to 1,4550

EURCAD today reversed down from the key resistance level 1,4700 (which has been reversing the price form the middle of September) – intersecting with the upper daily Bollinger Band.

The resistance level 1,4700 is further strengthen by the nearby 50% Fibonacci correction of the previous downward impulse from August.

EURCAD is expected to fall toward the next support level 1,4550  (which reversed the price multiple times at the start of November).