Technical analysis

EURCAD Wave Analysis 9 December, 2020

EURCAD Wave Analysis 9 December, 2020

• EURCAD falling inside minor wave 2

• Likely to fall to 1.5400

EURCAD continues to fall inside the short-term correction 2 which started earlier with the daily Shooting Star from the key resistance level 1.5660 (top of the daily Dark Cloud Cover from the end of October).

The active wave 2 belongs to the medium-term upward impulse wave (3) from the start of November.

EURCAD is expected to fall further toward the next round support level 1.5400 (target price for the completion of the active wave 2 intersecting with the weekly Triangle from March).

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