Categories: Technical analysis

EURCAD Wave Analysis – 7 November, 2022

• EURCAD reversed from key support 1.3280

• Likely to rise to resistance level 1.3520

EURCAD under the bullish pressure after the earlier upward reversal from the key support 1.3280 (former strong resistance from July and August) – standing near the lower daily Bollinger Band.

Upward reversal from the key support 1.3280 created the daily Hammer, which started the active short-term impulse wave 3- which belongs to wave (C) from September.

Given the strong euro gains, EURCAD can be expected to rise further toward the next resistance level 1.3520.

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: EURCAD

Recent Posts

Pro News Flash: Bitcoin Is Stuck While Billion Dollar Buyers Step In

🛟 Bitcoin is having a hard time staying afloat, even as major players step in…

3 hours ago

Natural Gas. Current situation #trandingshorts #tradelikeapro #trading #tradingstrategy #naturalgas

We're gonna talk about the gas market, where prices are falling rapidly. Let's take a…

5 hours ago

The dollar remains focused on the labour market

The US dollar weakened significantly in 2025, and its fate depends on central banks. The…

5 hours ago

Major coins dragged the market down

Major cryptocurrencies fell amid declining market sentiment, low liquidity, and institutional rebalancing, with Bitcoin dropping…

7 hours ago

Dogecoin Wave Analysis – 15 December 2025

Dogecoin: ⬇️ Sell - Dogecoin broke long-term support level 0.1365 - Likely to fall to…

20 hours ago

Alcoa Wave Analysis – 15 December 2025

Alcoa: ⬇️ Sell - Alcoa reversed from strong resistance level 47.00 - Likely to fall to…

20 hours ago

This website uses cookies