EUR/CAD :: Range 1.35 .EURCAD :::
The price is located in an ascending channel, which increases the credibility and quality of the channel with appropriate interactions. The next price points are expected to be in the range of 1.35 .
Eurcadlongterm
EURCAD Long Term IdeaG'day guys.
Let's analyse EURCAD.
Am gonna projecting long-term movement of this pair. Which technically, this pair still uptrend but clearly seen a rejection and loss of interest.
Am expecting this pair creating sideways with HNS. then changing direction soon.
Let's monitor this pair for a few month.. stay tuned..
EUR/CADBreaking the highest resistance with a big bullish Candle! after making a retest of the broken resistance downside, High possibility to reach the Target indicated.
Any Ideas or opinion will be a + for me, Thank you.
ELLIOT WAVE: EURCAD BULLS LOOKING TO MAKE A NEW HIGHThe price movement for the EUR/CAD has been constrained by several channels and overlapping price action over the past few years. The above chart visualizes the WEEKLY price action of EURCAD from August 2012 low. As visible, its structure can be best labeled as a "W-X-Y" double three/combination Elliot Wave pattern.
The advance from August 2012 and March 2014 can be labeled as an (a)-(b)-(c) zigzag pattern in wave W. While the sideways and time-consuming price action that follows the rally between March 2014 and September 2019 seems to be unfolded as an Elliot Wave running triangle pattern labeled (a)-(b)-(c)-(d)-(e) in wave X.
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According to Elliot wave theory, Triangle is a continuation pattern which breaks in the direction of the preceding move. With that being said, we could see a rally in wave Y in the form of a zigzag to complete the double three structure.
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Wave Y has the potential to equal the size of wave W. So, the blue box and upper trendline of the channel is the most likely price target.
BEYOND ELLIOT WAVE
We could also see the price testing the longterm ascending trendline that extends from August 2012 low and has not been tested since 2015 for the third time. Last weekly price action closed as bullish outside or engulfing bar, this further suggesting a potential surge in the exchange rate of EURCAD.
Thanks for reading!
