Technical analysis

EURCAD Wave Analysis – 28 September , 2018

  • EURCAD broke support area
  • Further losses are likely

EURCAD continues to fall after the earlier breakout of the support area lying between the key support level 1.5100 (which stopped the previous corrective wave A in the middle of September, as can be seen below) and the support trendline of the daily Triangle from July.

The breakout of this support area continues the active short-term impulse wave C, which belongs to the medium-term ABC correction (2) from the start of September.

EURCAD is expected fall further and retest the next round support level 1/5000 (forecast price for the completion of the active impulse wave C).

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