justatrader
Long

EURCAD - Test of 1.40745 support

FX:EURCAD   Euro Fx/Canadian Dollar
122 0 3
Weekly candlestick shows a bullish engulfing (Body). Daily chart's price channel shows the last major support at 1.40745. Price briefly dipped lower but rallied to close back above the support level. Current price could see a decline to 1.40745. A test of support could see a rally to 1.4444, with the possibility to test back to 1.47117.

I also plotted what looks like a Wolfe Wave, gives the EPA/ETA around the same 1.444 with a possibility of reaching the target around 18/3/2015
Professional market analyst with a keen interest on futures. Love keeping an eye on the markets. Currencies, bonds, commodities. Combining technical analysis and the fundamentals. Contact me for more details.
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