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Wave Tech Analysis

FxPro Forex Analysis: EUR/CAD Wave Analysis – June 12, 2018

EUR/CAD reversed from support zone
• Likely to rise further

EUR/CAD recently reversed up from the support zone lying between support level 1.5200 (previous resistance from May), upper trendline of the recently broken down channel from March and the 38.2% Fibonacci correction of the previous upward impulse from May.

The upward reversal from this support zone is aligned with the active medium-term impulse wave (C) from the end of May.

EUR/CAD is likely to rise further toward the next resistance level 1.5450 (top of the previous wave (b) and the former support level from April).

EURCAD - Primary Analysis - Jun-12 1427 PM (1 day)