- EURCAD reversed from support area
- Further gains are likely
EURCAD recently reversed up with the daily Morning Star from the support area lying between the key support level 1.4920 (which has been reversing the price from the middle of November) and the lower daily Bollinger Band.
The upward reversal from this support area started the active medium-term impulse wave (3) – which belongs to the long-term upward impulse sequence ③ from February.
EURCAD is expected to rise further and re-test the next resistance level 1.5200 (which reversed previous waves (1) and B).