EUR/CAD - New impulsive decline towards at 1.3000 about to develop
After a nice corrective rally in wave 2 back to the 38.2% corrective target at 1.4917 the next impulsive decline in wave 3 is now developing.
A break below support at 1.4600 will be the first strong indication that wave 3 lower is developing, while a break below the minor support-line near 1.4435 will confirm the next impulsive decline towards at least 1.3000. As third waves often extends, we should expect an extension here too, which will call for a decline closer to 1.1820 before wave 3 likely is complete.
So look for a break below short term important support at 1.4600 as the trigger for downside acceleration.
If you like the above post and want to enjoy the insight and the opportunities that follows, then you should consider joining my service elliottwavesurfer.com. Click at the link and see, what I have to offer.
No comments:
Post a Comment