- EURCAD reversed from support zone
- Likely to rise to resistance level 1.6100
EURCAD currency pair earlier reversed up from the support zone between the key support level 1.5950 (former monthly high from April), 20-day moving average and the 38.2% Fibonacci correction of the upward impulse from May.
The upward reversal from this support zone started the active minor impulse wave iii – which belongs to the intermediate impulse wave (3) from the end of 2024.
Given the overriding daily uptrend, EURCAD currency pair can be expected to rise to the next resistance level 1.6100 (which stopped the previous impulse wave i in June).
- Likely to rise to resistance level 1.6100
EURCAD currency pair earlier reversed up from the support zone between the key support level 1.5950 (former monthly high from April), 20-day moving average and the 38.2% Fibonacci correction of the upward impulse from May.
The upward reversal from this support zone started the active minor impulse wave iii – which belongs to the intermediate impulse wave (3) from the end of 2024.
Given the overriding daily uptrend, EURCAD currency pair can be expected to rise to the next resistance level 1.6100 (which stopped the previous impulse wave i in June).
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to [email protected] for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to [email protected] for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to [email protected] for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to [email protected] for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.