EURCAD Wave Analysis – 3 June, 2020

• EURCAD reversed from support level 1.5065

• Likely to rise to 1.5300

EURCAD recently reversed up from the pivotal support level 1.5065, which has been repeatedly reversing the pair from April, as can be seen below.

The support area near the support level 1.5065 was strengthened by the lower daily Bollinger band and by the 50% Fibonacci correction of the previous upward impulse 1 from February.

EURCAD is expected to rise further toward the next resistance level 1.5300 (which stopped the previous waves a and (b)).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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