Technical analysis

EURCAD Wave Analysis 8 March, 2021

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).

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