The EUR/CAD has failed two attempts at a break above the 1.37-figure in recent days and looks to fall furthe
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The EUR/CAD has failed two attempts at a break above the 1.37-figure in recent days and looks to fall furthe
The pair is moved up to test the resistance on 1.3560
if it is breaked we can see the pair move up
if this resistance is not breaked we can see the pair move down to test the 1st support on 1.3520
The EURCAD has popped above 13714 to meet the Elliott channel. If this count is correct, then price needs to turn now.
I think
pair tested the top of the bearish channel
which is located 38.2 Fibo
Only a break and hold above the diagonal resistance path would open up for the euro
The pair is moved up to test the resistance on 1.3560 if it is breaked we can see the pair move up if this resistance is not breaked we can see the pair move down to test the 1st support on 1.3520
Our latest preferred count is that larger degree wave [C] from 1.3289 as well as circle wave B ended at 1.7509 in Dec 2008 with (A): 1.6325, (B): 1.4719 followed by wave (C) at 1.7509
If a M15 close above 1.3656 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1.3606 sell only and do not buy. If price closes back above it again do nothing
The range 1.3656 and 1.3606 is neutral area, any trade done in between is personal decision and not part of this analysis
we can see that the pair has closed it's daily candle above 1.3600 . so , that's means that up trend is expected and the pair might head to 1.3650 and then 1.3700 ,but also the hourly correction is expected before continue in the up trend
the pair and as we can see from the chart is trading under level 1.3800 , so , that's mean the down trend is still standing and the pair might head to 1.3840 and then 1.3880
Today’ scalp revisits a EUR/CAD trade last week which played out quite favorably hitting all our levels including our extended break limit target. A relief rally in the euro over the past few sessions provides ideal entry points for further scalps to the downside.