EUR/CAD broke support zone

EUR/CAD broke support zone

2019-11-11 • Updated

  • EUR/CAD broke support zone
  • Next sell target - 1.4340

EUR/CAD continues to fall inside the minor impulse wave 3 which earlier broke through the support zone lying between the support level 1.4540 (previous sell target) and the 50% Fibonacci correction of the previous intermediate ABC correction (2) from the middle of February. The breakout of this support zone strengthened the bearish pressure on this currency pair. EUR/CAD is expected to fall to the next sell target at the next support level 1.4340 (standing close to the 61.8% Fibonacci correction of the aforementioned correction (2)).

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