EUR/CAD broke key resistance level 1.5200

EUR/CAD broke key resistance level 1.5200

  • EUR/CAD broke key resistance level 1.5200
  • Next buy target - 1.5500

EUR/CAD recently broke sharply through the key resistance level 1.5200 (which stopped the previous intermediate impulse wave (1) in the middle of May, as can be seen below). The breakout of the resistance level 1.5200 accelerated the active minor impulse wave (iii) - which belongs to the impulse (3) from the start of September. EUR/CAD is expected to rise toward the next buy target at the next resistance level 1.5500 (forecast price for the completion of wave (iii)).


GBP/USD: "V-Top" pattern

We're likely going to have a downward correction. It's likely that bears are going to test the closest support at 1.4066 during the day...



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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