EURCAD- Sideways move coming to an end, expect a break out!

We've been tracking this move for more than a month now and it's finally coming to an end.

We should now be in the last wave of this large triangle.

Be aware that wave E can stop without touching the lower trend line or it can sometimes overshoot it, but needs to remain above wave (c) at 1.4985.
if we want to see higher prices.

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If we don't see a reversal from here, the count will probably get invalidated

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We got the expected reversal and price broke now outside the triangle, so, look for 1.5300 - 1.5350 as resistance zone where a reversal might come from and potentially launch a 500 - 700 pips sell off!

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So, because of CAD strength thanks to Unemployement data, we need to adjust our view here. We need to shift our count a bit more to the side if we consider a triangle still in play. In triangles, when wave (b) takes this much time, waves (c,d,e) usually are quite fast then.
The other alternative is we're getting an (abc) move only, going maybe below support and making a new low before going up again.

ElliottWaveBelgium

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ElliottWaveBelgium

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