EUR/CAD: buy targets - 1.4800 and 1.4900
By: Dmitriy Chernovolov
- EUR/CAD rises inside primary impulse wave ③
- Next buy targets - 1.4800 and 1.4900
EUR/CAD has been rising steadily in the last few trading sessions inside the active primary impulse wave ③, which recently broke the resistance level 1.4570 and the resistance trendline of the daily down channel from August (which has enclosed the previous primary ABC correction ②). The active impulse wave ③ started earlier this month – when the pair reversed up from the support level 1.4100 (previous sell target set for this currency pair).
EUR/CAD is likely to rise further toward the next buy targets at the resistance levels 1.4800 and 1.4900 (top of the previous minor correction 2 from October).