EW ANALYSIS: EURCAD Just Started A Three-Wave Correction

FX:EURCAD   Euro / Canadian Dollar
Hello traders! Today we will talk about EURCAD!

Well, looking at the 4-hour chart, it's trading impulsively bearish , 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 ending diagonal . 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 resistance area , where bears may show up again!

If from any reason goes higher or more complex, we remain bearish 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.
Comment: EURCAD made our day!
Test our Services For 14 Days and See All Of Our Charts!
Any thoughts on GBPCAD?
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out