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Forex pairs in this Article » EUR/CAD
By: DailyForex.com

Currency: EUR/CAD Trend Expected Direction: Down Method: Elliott Waves and Fibonacci Levels Description: Expected barrier triangle as of wave B within a falling Zigzag where it is progressing wave d at 0.618 expected level and back to almost half way between 0.618 and 0.5 to complete wave B. A breakout must follow the triangle to form a motive wave C just equal to wave A unless a further correction comes across. However, I will trade this pattern and leave it for a couple of days untill I see the breakout from point e at 1.29227. Recommendation: Sell & Hold. Target Area: 1.27450 Stop Loss: 1.29750

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