EUR/CAD: buy target - 1.4900
By: Dmitriy Chernovolov
- EUR/CAD reached buy target 1.4650
- Next buy target - 1.4900
EUR/CAD recently broke through the powerful resistance level 1.4650 (which stopped the previous intermediate ABC correction (4) in last December and which was set as the buy target in our previous forecast for this currency pair). The breakout of this resistance level greatly accelerated the active impulse waves (iii) and 3 – both of which belong to the sharp intermediate (C)-wave from June.
EUR/CAD is expected to rise further in the active impulse waves (iii) and 3 toward the next buy target at the resistance level 1.4900. Strong support remains at the recently broken price level 1.4650.