EURCAD update

FX:EURCAD   Euro / Canadian Dollar
246 4 12
EURCAD             is moving lower in an impulse and we simply have to wait for consolidations before selling the continuation. It is very likely that price will show a response to previous lows for either wave '5' or 'b'. I wouldn't advise to buy from those levels (or it is on lower time frames for scalpers after an impulse/consolidation of lesser degree) but wait for a consolidation to mature.

Updates will follow
Comment: Short term buy opportunity after at least another corrective leg lower.

The bullish move we were looking for looks corrective and it might only be a wave A which means we should anticipate another leg higher. On the other hand this might be all, in that case a bearish impulse will follow. The arrows show both scenario's and after a consolidation we can trade the continuation.
thanks for the update
What do you think about EURCAD short term. I bought it low during FOMC ; looking for 1.43 but it didn't quite hit my target yet
TimStuyts Ranothil
@Ranothil, I just updated the chart. Safe trades!
+1 Reply
Ranothil TimStuyts
@TimStuyts, I'm enjoying the up impulse right now :) thanks
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