December 09, 2020 at 03:36PM
• EURCAD falling inside minor wave 2
• Likely to fall to 1.5400
EURCAD continues to fall inside the short-term correction 2 which started earlier with the daily Shooting Star from the key resistance level 1.5660 (top of the daily Dark Cloud Cover from the end of October).
The active wave 2 belongs to the medium-term upward impulse wave (3) from the start of November.
EURCAD is expected to fall further toward the next round support level 1.5400 (target price for the completion of the active wave 2 intersecting with the weekly Triangle from March).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/eurcad-wave-analysis-9-december-2020-20201209/
Selected by fonecable.com
- The Federal Reserve Bank: A Forex Trader’s Guide
- British Pound (GBP) Weekly Forecast: Attempts to Recover as Sentiment Shifts
- Why Most Traders Fail and How to Increase Trading Success
- USD/JPY Rate Tracks Rebound in US Yields Ahead of Fed Rate Decision
- US Dollar Firms as PMI Data Echoes Inflation Risk; Cue the Fed