EURCAD has completed corrective wave 4, and if the price breaks the parallel channel C, it may make a new low, which should be impulsive sub-wave 5 of wave (5).
If price breaks down channel C, the following targets for Wave 5 will be 1.4313 - 1.42520 - 1.41652- 1.41156.
After making wave (5), if the price breaks the B channel, it can go for 1.4645 and start a new 5-wave impulse structure.
Please note that the Breakout of wave (4) indicates a strong bull trend.
If the price breaks the channel without a downward, it indicates truncated 5th.
I will upload intraday chart for further information soon.
If price breaks down channel C, the following targets for Wave 5 will be 1.4313 - 1.42520 - 1.41652- 1.41156.
After making wave (5), if the price breaks the B channel, it can go for 1.4645 and start a new 5-wave impulse structure.
Please note that the Breakout of wave (4) indicates a strong bull trend.
If the price breaks the channel without a downward, it indicates truncated 5th.
I will upload intraday chart for further information soon.
Note
First target of 1.4313 reached.Note
Second Target of 1.42520 has reachedNote
Third Target of 1.41652- has reachedNote
Final Target of 1.41156. has reachedTrade closed: target reached
EURCAD: All Targets Done
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Related publications
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.