The EURCAD is in a downtrend. Price for the last days consolidated to form a Descending Triangle that is an indicator for a further push to the downside.
This pair is struggling to reach the upper limit of its ascending channel. This behavior is typical of counter-trend moves, so we expect this channel is forming through a 2nd wave which should be followed by a steep fall in the 3rd wave down. Our time analysis indicates that there is little time left for the bulls to reach the top area of the channel so we might...
It seems that this pair is declining in an impulsive fashion and is now in the 4th wave. We expect the price to turn south again at the start of the next week. If 1.4741 level is broken to the upside, this analysis is invalidated. Break down of the regression channel can be considered as the short signal. Good luck, Cyclical Waves Group
EUR/CAD looks like it is forming a real nice sell opportunity on 2 time frames. The main chart is the 4 hour. Here there is a 5 wave impulse (wave 1) with a complex WXY correction (wave 2) Wave 2 retraced 50% of wave 1 Wave Y = 78.6 % of wave W In addition we can see that the RSI has held the 60-70 bear resistance indicating that the move up is a pull...