EUR/CAD: sell target - 1.4200
By: Dmitriy Chernovolov
- EUR/CAD reversed from resistance zone
- Next sell target - 1.4200
EUR/CAD continues to decline after the recent downward reversal from the resistance zone near the strong resistance level 1.4480 (which also previously reversed the pair with the daily Japanese candlesticks reversal pattern Bearish Engulfing at the end of July, as you can see below). The previous downward reversal from the resistance level 1.4480 completed the earlier primary ABC correction ② from April.
EUR/CAD is likely to fall further inside the active minor impulse wave 1 toward the next sell target at the support level 1.4200 (which reversed the price with the daily Morning Star last week).