1 Minen lesen
EURCAD: ⬆️ Buy
– EURCAD reversed from key support level 1.6200
– Likely to rise to resistance level 1.6365
EURCAD currency pair recently reversed up from the key support level 1.6200 (former monthly high from August) intersecting with the 20-day moving average and the 50% Fibonacci correction of the upward impulse from the start of September.
The upward reversal from the support level 1.6200 continues the active impulse wave 3 which belongs to the extended upward impulse sequence (5) from May.
Given the clear daily uptrend, EURCAD currency pair can be expected to rise to the next resistance level 1.6365 (target price for the completion of the active impulse wave 3).
Source: https://fxpro.news
