NZD/JPY falling inside minor impulse wave C Next sell target - 76…
EUR/CAD rising inside minor impulse wave 3
- EUR/CAD rising inside minor impulse wave 3
- Next buy target - 1.5340
EUR/CAD continues to rise inside the minor impulse wave 3 which started previously with the daily Hammer from the support zone located between the support level 1.4960 (low of the previous minor correction (ii)), lower daily Bollinger Band and the 50% Fibonacci correction of the previous impulse wave 1. EUR/CAD is expected to rise toward the next buy target at the next resistance level 1.5340 (top of the previous minor impulse wave 1).
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.