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EUR/CAD Analysis, Chart, and Trading Idea

16.05.2023

Market Review

Analytics for EUR/CAD Forex pair, based on complex analysis of modified waves, Fibonacci levels and price channels
 



The support level of 1.4628 curbs the buyers. The overall trend is upward. The descending wave structure is truncated. There is a bullish divergence on the Awesome Oscillator.
 



Trading idea:

Buy at the formation of the ascending structure, when the (A) wave breaches the sloping channel of the descending truncated structure

Stop-Loss: 1.4628

Target price levels: 1.4750, 1.5000

Author: GC
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