EUR/CAD, Weekly Outlook
EURCAD Weekly Outlook | Written by Dîrzu Andrei-Ovidiu (diavolul) | Oct 10 2010 08:22 GMT
EUR/CAD soared to a new high of 1.4228. A temporary low might be in place after the sharp fall from friday. Note that the signal went below MACD histogram and with the invalidation of 1.4092 its likely to see some consolidation in next week. But downside move is expected to be contained by 1.3683 and give us another rise. Over the 1.4223, the target will be 100% projection of 1.2448 to 1.369 from
1.3068, to 1.4311.
On the medium and long term view the rise from 1.2448 to 1.4228 is treated as a three waves correction of the initial impulse 1.6007-1.295.
The prediction is still bullish with the 1.3683 support and the trend line valid.
Any decisive break on them with confirmation on 1.3068 will get bearish outlook in place and fall to 1.2448.
EURCAD Weekly Outlook | Written by Dîrzu Andrei-Ovidiu (diavolul) | Oct 10 2010 08:22 GMT
EUR/CAD soared to a new high of 1.4228. A temporary low might be in place after the sharp fall from friday. Note that the signal went below MACD histogram and with the invalidation of 1.4092 its likely to see some consolidation in next week. But downside move is expected to be contained by 1.3683 and give us another rise. Over the 1.4223, the target will be 100% projection of 1.2448 to 1.369 from
1.3068, to 1.4311.
On the medium and long term view the rise from 1.2448 to 1.4228 is treated as a three waves correction of the initial impulse 1.6007-1.295.
The prediction is still bullish with the 1.3683 support and the trend line valid.
Any decisive break on them with confirmation on 1.3068 will get bearish outlook in place and fall to 1.2448.