EURCAD: Is This The Rise Of The Bull Era?

2022年2月7日

I have uploaded the EURUSD Elliott projection on 4th January 2022.
The price had started creating the last leg, and I had mentioned two scenarios.

Click Here to read the Previous article:

Article 1: EURCAD: Sentiments are short-term bearish, but

Result - Price has reached all the bearish targets by creating the low of 1.4100.


After creating a new lower low, the price was ready for an upward move. So I had activated the bullish scenario with upside targets.

Click Here to read the Previous article:

Article 2: EURCAD: Bullish Scenario Is Active!

Result - Price has reached all the targets by creating a high of 1.46345.


Use Play-button to check the results.

What's next?

Price has taken support from the lower band of the base channel.

According to the wave principle, price movement confirms its trend by breaking the corrective wave four of the lower degree. Price will face some resistance because wave 4 is the wave that holds the power of the current trend, and the breakout of these levels is the result of the trend reversal. If the price breaks the corrective wave four at 1.46393, the price will start its upward move.
Please note that the price can take support on the parallel channel.

I will update further information with target and invalidation soon.