NZD/JPY falling inside minor impulse wave C Next sell target - 76…
EUR/CAD falling inside minor corrective wave (ii)
- EUR/CAD falling inside minor corrective wave (ii)
- Next sell target - 1.4960
EUR/CAD has been falling in the last few trading sessions inside the minor corrective wave (ii), which started earlier from the resistance area lying between the upper daily Bollinger Band and the resistance levels 1.5370 (top of the previous impulse wave 1) and 1.5270. The downward reversal from this resistance area created the daily Japanese candlestick reversal pattern Evening Star. EUR/CAD is expected to fall to the next sell target at the next support level 1.4960.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.