Categories: Technical analysis

EURCAD Wave Analysis 8 March, 2021

• EURCAD under bearish pressure

• Likely to fall to support 1.4800

EURCAD under the bearish pressure after the price broke the long-term support level 1.5070 (which reversed the price multiple times from April to June of 2020).

The breakout of the support level 1.5070 accelerated the active multi-duration impulse waves iii, 3 and (3)

EURCAD is likely to fall further toward the next support 1.4800 (target price for the completion of the active weekly impulse wave 3).

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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