EURCAD Wave Analysis – 21 January, 2020

• EURCAD reversed from support area
• Likely to rise to 1.4580

EURCAD recently reversed up from the strong support area lying between the key support level 1.4460 (which has been reversing the price from September) and the lower daily Bollinger Band.

The upward reversal from this support area stopped the previous short-term impulse wave (v).

EURCAD is likely to rise further toward the next resistance level 1.4580 (high of the previous short-term correction (iv)).