EURCAD Wave Analysis – 29 December, 2022

• EURCAD rising inside the minor wave (b)

• Likely to rise to resistance level 1.4600

EURCAD continues to rise inside the minor correction (b), which previously reversed up from the key support level 1.4360 intersecting with the 20-day moving average.

The active wave (b) belongs to the sharp C-wave of the intermediate ABC correction (4) from the end of August.

EURCAD can be expected to rise further toward the next resistance level 1.4600 (target price for the completion of the active C-wave).