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EURCAD Wave Analysis 21 April, 2021

• EURCAD reversed from resistance area

• Likely to fall to support level 1.4940

EURCAD recently reversed down sharply from the resistance area lying between the resistance level 1.5200, upper daily Bollinger Band and the 38.2% Fibonacci correction of the downward impulse from December.

The price will most likely create the daily candlesticks reversal pattern Bearish Engulfing – if the price closes today near the current levels.

EURCAD is likely to fall further toward the next support level 1.4940 (former resistance from the end of March).

EURCAD Wave Analysis 21 April, 2021

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