Technical analysis

EURCAD Wave Analysis – 3 June, 2020

EURCAD Wave Analysis – 3 June, 2020

• EURCAD reversed from support level 1.5065

• Likely to rise to 1.5300

EURCAD recently reversed up from the pivotal support level 1.5065, which has been repeatedly reversing the pair from April, as can be seen below.

The support area near the support level 1.5065 was strengthened by the lower daily Bollinger band and by the 50% Fibonacci correction of the previous upward impulse 1 from February.

EURCAD is expected to rise further toward the next resistance level 1.5300 (which stopped the previous waves a and (b)).

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