Technical analysis

EURCAD Wave Analysis 6 October, 2020

EURCAD Wave Analysis 6 October, 2020

• EURCAD reversed from support area

• Likely to rise to 1.5735

EURCAD recently reversed up from the support area lying between the support level 1.5570 (which has been reversing the price from last month), lower daily Bollinger Band and the support trendline from June.

The price is currently rising inside the short-term impulse wave 3 – which belongs to the medium-term upward impulse sequence (3) from September.

EURCAD price is likely to rise further toward the next resistance level 1.5735 (top of the previous waves B and 1).

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