InsideMarket
Long

EURCAD - 4th wave correction for a bearish ending diagonal

FX:EURCAD   Euro / Canadian Dollar
EURO/CADDIE comes all the way down and seems to reach a bottom for now.
MACD indicator shows divergence of movement: prices go down and the indicator goes up.

About the ending diagonal , it is expected five waves down projecting price to $1.39~ in medium-term. All this bearish movement since late August is a consolidation. When it comes to an end, it may trigger some serious bullish momentums.

Happy trading!

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Comment: Analysis still valid. Price lays at support (not on chart) similar to the falling wedge at EURUSD.

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