EURCAD recently broke through the resistance area lying at the intersection of the resistance trendline from June and the 61.8% Fibonacci correction of the previous sharp downward impulse from September.
The breakout of this resistance area should accelerate the short-term impulse wave (c) – which belongs to the medium-term ABC correction (iv) form last month.
EURCAD is expected to rise further and re-test the aforementioned resistance level 1.5300 (top of the previous wave (b) and the target price for the completion of the active impulse wave (c)).
EURCAD recently broke through the resistance area lying at the intersection of the resistance trendline from June and the 61.8% Fibonacci correction of the previous sharp downward impulse from September.
The breakout of this resistance area should accelerate the short-term impulse wave (c) – which belongs to the medium-term ABC correction (iv) form last month.
EURCAD is expected to rise further and re-test the aforementioned resistance level 1.5300 (top of the previous wave (b) and the target price for the completion of the active impulse wave (c)).
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