EUR/CAD: Sell target - 1.4400 || 11-03

EUR/CAD: Sell target - 1.4400 || 11-03
By: Dmitriy Chernovolov || https://fxbazooka.com

Broker : FBS Markets Inc

EUR/CAD continues to fall inside the intermediate (B)-wave which started recently – when the pair reversed down with the daily Japanese candlesticks reversal pattern Falling Star from the resistance zone lying between the resistance level 1.4800 and the 38.2% Fibonacci correction of the previous sharp downward impulse from the end of February, as can be seen below.

• EUR/CAD approached support level 1.4530
• Next Sell target - 1.4400

The pair is currently trading close to the support level 1.4530 (which stopped the previous sharp primary impulse wave ③ from the end of February). If the price breaks trough the support level 1.4530 - EUR/CAD, will then, most likely, fall to the next Sell target at 1.4400.

EUR/CAD: Sell target - 1.4400 || 11-03