Hello traders,
Today we will talk about EUR/CAD. We have noticed a very clear bullish pattern with impulsive five waves up and three waves of correction, which in EW theory suggest more upside! So, as you can see, we have labeled it to the point of continuity and this is actually our favorite count in which we have very strong confidence.
What we need now is to confirm that our analysis is correct, so if we see a break above channel resistance line of a corrective channel, followed by a break above 1.5291 region, then we would have a confirmation that it can be headed much higher into new highs above 1.5370 within a new bullish five-wave cycle!
However, even if EUR/CAD goes more complex here, for example back below 1.5089 support, even then we would be looking bullish as long as it's trading above 1.4798 invalidation level.
