Well, looking at the 4-hour chart, it's trading impulsively , but in the last couple of weeks price has slowed down, which gave us an idea of a completed five-wave drop , where fifth wave was an . regardin EW, when ending diagonals fully complete, usually sharp and impulsive reversals occur and seems like it's just happening!
That said, we believe that EURCAD may start recovering into a bigger three-wave A-B-C correction, so watch out for more upside here back to 1.5220 – 1.5300 , where bears may show up again!
If from any reason goes higher or more complex, we remain as long as it's trading below 1.5640 invalidation area!
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.