EURCAD Wave Analysis – 28 May, 2020

• EURCAD reversed from pivotal support level 1.5100

• Likely to rise to 1.5320

EURCAD recently reversed up from the pivotal support level 1.5100 (which stopped the previous waves 2 and (a)) intersecting with the lower daily Bollinger Band.

The upward reversal from the support level 1.5100 stopped the earlier short-term ABC correction (ii).

EURCAD is likely to rise further toward the next resistance level 1.5320 (top of the previous correction (b)).