Wave Tech Analysis

FxPro Forex Analysis: EUR/CAD Wave Analysis – 21 August , 2018

EUR/CAD reversed from support level 1.4830
• Further gains are likely

EUR/CAD recently reversed up from the support area located between the key support level 1.4830 (former strong support from January) and the lower daily Bollinger Band.

The upward reversal from this support zone completed the previous medium-term ABC correction (B) from the middle of March.

Given the strength of the aforementioned support zone, EUR/CAD is expected to rise further and retest the next resistance level 1.5120 (former support from June).

EURCAD - Primary Analysis - Aug-21 1855 PM (1 day)