Market Instrument: EURCAD
Timeframe: Weekly
Analysis: Technical
Structure: Support and Elliot Waves
Prediction: Bullish
EURCAD is on major weekly support where we have seen a good buying pressure formed at these price levels previously. For the moment price is respecting the support level formed on the lower timeframe while the bearish trend extended up to this level has already completed its 5 waves and I have a decent expectation of a reversal to form around this support to the upside.
Timeframe: Weekly
Analysis: Technical
Structure: Support and Elliot Waves
Prediction: Bullish
EURCAD is on major weekly support where we have seen a good buying pressure formed at these price levels previously. For the moment price is respecting the support level formed on the lower timeframe while the bearish trend extended up to this level has already completed its 5 waves and I have a decent expectation of a reversal to form around this support to the upside.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.