EUR/CAD Break To The Upside?

Ville Vainio

June 11, 2015 @ 2:31 pm – I have gone with the triangle scenario here in EUR/CAD. This pair is again right on the support zone around 1.38 and has been rejected couple of times before. If this triangle scenario proves correct, we should see a push upwards and the thrust measurement from the triangle gives target of 1.416 for the next wave.
Remember that if this declines past 1.375 this wave count is wrong and need to be revised.

June 10, 2015 @ 1:35 pm – EUR/CAD finishing this corrective wave down and it seems that the area around 1.38 is strong support. EUR/CAD has tested this level 3 times now and rejected it every time. This might be the bottom for this correction and next we would see push upwards and eventually to new short term highs. One other possibility is that there is triangle forming on this 4th wave position. In both cases the next move is going to be to the upside.

June 9, 2015 @ 2:59 pm – EUR/CAD made a strong decline and this indicates that minute wave 4 is still forming. This 4th wave corrective decline should not drop lower than 1.375 before turning up for minute wave 5 of minor wave C. I am expecting one small wave down and then the start of 5th wave to the upside.

EUR/CAD 4 Hour Chart