ew-forecast
Short

EURCAD : Correction May Be Over; Pair Could Reach Lower Levels

FX:EURCAD   Euro Fx/Canadian Dollar
On the 4h chart of EURCAD             , we see that price was trading in a correction, because of a slow and sloppy price action. That said price made a double zig-zag labeled as red waves w-x-y. We think that correction might be over because of a sharp fall to the downside labeled as red wave i-circled. A recent pullback to 1.4984 could be red wave ii-circled, and now we may see price reach lower levels in red wave iii             in days ahead.

A double zig-zag is a correction, a complex pattern structured by seven swings. It's actually a combination of two simple zig-zags. The difference is that usually double zig-zag will make deeper retracement and be longer in time compared to only one simple zig-zag. Two zig-zags are separated by wave x.


www.ew-forecast.com
www.ew-forecast.com

@ewforecast

Related Ideas

Have the same count now short at break of wave 1 low
+1 Reply
Marenno PRO
a year ago
My thought regarding this pair is the same, (even though I'm not counting as you) but look what can be seen here, what you think? https://www.youtube.com/watch?v=Siz2YGg_7MU&feature=youtu.be
snapshot
+1 Reply
rlong9500 PRO Marenno
a year ago
I have a deeper correction to the 1.43 area then trend continuation
+1 Reply
Marenno PRO rlong9500
a year ago
thank you for your reply!! Nice one :) let's see what's finally will happen!!!
+1 Reply
ew-forecast PRO Marenno
a year ago
Looks like eurcad is still bearish on the 4h chart :)
Reply
TradeMY
a year ago
AUD, NZD and CAD (Twin and Hybrid Pair) will be strong based on my monthly and weekly Pips Movement. I agree strongly to this idea!. Cheers.
+1 Reply
TradeMY TradeMY
a year ago
Attached is my data. http://puu.sh/kCdru/57e241fa79.png
+1 Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out