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EURCAD: Sentiments Are Short-Term Bearish, But…

free-forex-eurcad-calls-chart

free-forex-eurcad-calls-chart

EURCAD has completed corrective wave 4, and if the price breaks the parallel channel C, it may make a new low, which should be impulsive sub-wave 5 of wave (5).

If price breaks down channel C, the following targets for Wave 5 will be 1.4313 – 1.42520 – 1.41652- 1.41156.

After making wave (5), if the price breaks the B channel, it can go for 1.4645 and start a new 5-wave impulse structure.

Please note that the Breakout of wave (4) indicates a strong bull trend.

If the price breaks the channel without a downward, it indicates truncated 5th.
I will upload an intraday chart for further information soon.


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Mr.Dev, has been in the forex and commodity markets since 1997. He’s one of the few non-biased investment advisors to have correctly called the current bull / bear market before it began and to have positioned his clients accordingly. As a result of his accurate forecasts on Indian commodity markets & currency, he is becoming increasingly more renowned. Mr.Dev has been quoted in many of the newspapers. He is a highly recommended technical analyst by many of the local financial newsletters and advisory services. He also is founder of commodity profit sharing service on Moneymunch.

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