Technical analysis

EURCAD Wave Analysis 30 April, 2021

• EURCAD broke support levels 1.4900 and 1.5000

• Likely to reach support level 1.4740

EURCAD continues to fall after the earlier breakout of the support levels 1.4900 and 1.5000 – which accelerated eth active minor impulse wave 5.

The active impulse wave 5 belongs to the intermediate downward impulse wave (C) from the end of December.

Given the strong downtrend – EURCAD is likely to fall further toward the next support level 1.4740 (former multi-month high from March).

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