Categories: Technical analysis

EURCAD Wave Analysis – 30 June, 2020

• EURCAD reversed from key resistance level 1.5430

• Likely to fall to 1.5200

EURCAD recently reversed down from the key resistance level 1.5430 (top of the previous minor correction 2), intersecting with the daily upper Bollinger Band.

The downward reversal from the resistance level 1.5430 created the daily Shooting Star – which stopped the previous correction (ii). EURCAD is likely to fall further toward the next support level 1.5200 (which earlier reversed the price in the middle of June).

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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Tags: EURCAD

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