EURCAD Wave Analysis

  • EURCAD broke resistance level 1.3300
  • Likely to rise to resistance level 1.3500

EURCAD currency pair rising strongly after the breakout of the resistance level 1.3300 (top of wave (i) from the middle of September) intersecting with the two resistance trendlines from March and February.

The breakout of the resistance level 1.3300 continues the (c)-wave of the minor ABC correction 2 from the end of August. EURCAD currency pair can be expected to rise further toward the next resistance level 1.3500 (target for the completion of the active ABC correction 2).

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