EURCAD Chart Technical Outlook

EURCAD Chart Technical Outlook completes a bullish five-wave count
The cross has completed a bullish five-wave count (Elliott wave) close to the 261.8% extension level of 1.4870. With the weekly chart highlighting a correction of 9 counts from demark indicators, there is ample scope for a deeper correction. The 8-hour chart highlights an ending wedge formation. On a clear break of the trend of higher lows at 1.4814, the measured move target is 1.4693.

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