EURCAD Wave Analysis – 29 January 2026

EURCAD: ⬇️ Sell

– EURCAD reversed from resistance area

– Likely to fall to support level 1.6045

EURCAD currency pair recently reversed from the resistance area between the strong resistance level 1.63549 (upper border of the sideways price range inside which the price has been trading from October), and the upper daily Bollinger Band.

The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Bearish Engulfing.

EURCAD currency pair can be expected to fall to the next support level 1.6045 (which stopped the previous intermediate correction (4)).

Source: https://fxpro.news