EUR/CAD rising inside intermediate impulse wave (3)

• EUR/CAD rising inside intermediate impulse wave (3)
• Next buy target - 1.4900

EUR/CAD continues to rise inside the intermediate impulse wave (3), which started earlier from the combined support area lying between the pivotal support level 1.4500 (which stopped the earlier A-wave in the middle of July), lower daily Bollinger Band and the 50% Fibonacci correction of the previous intermediate impulse wave (1) from February. EUR/CAD is expected to rise to the next buy target at the next resistance level 1.4900 – the breakout of which can lead to further losses toward 1.5000.

Dmitry Chernovolov

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