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FxPro Forex Analysis: EURCAD Wave Analysis – 02 August, 2018

EURCAD broke pivotal support level 1.5140
• Further losses are likely

EURCAD continues to fall after the recent breakout of the pivotal support level 1.5140 (which reversed the price in the middle of June, as can be seen from the daily EURCAD chart below).

The breakout of the support level 1.5140 should accelerate the active short-term impulse wave C of the medium-term ABC correction (2) from the end of June.

EURCAD is likely to fall further and re-test the next powerful support level 1.4920 (multi-month low from the end of May).

EURCAD - Primary Analysis - Aug-02 1918 PM (1 day)

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