EUR/CAD broke support zone

EUR/CAD broke support zone

2019-11-11 • Updated

  • EUR/CAD broke support zone
  • Next sell target - 1.4720

EUR/CAD continues to fall after the earlier breakout of the support zone lying between the support level 1.4960 (which reversed the previous minor corrective wave (a) at the start of December, as can be seen below) and 38.2% Fibonacci correction of the previous upward impulse from September. The breakout of this support zone accelerated the c-wave of the active minor ABC correction 2 November. EUR/CAD is expected to fall to the next sell target at the next support level 1.4720 (target price for the completion of wave 2).

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