EURCAD and GBPCAD pairs are coming lower within projected higher degree corrections by Elliott wave theory.
If you remember our article from July 26, when we mentioned and highlighted about higher degree corrections on EURCAD and GBPCAD pairs, we can see them now coming impulsively down within wave C of a higher degree A-B-C corrective decline as expected. CLICK HERE
EURCAD is actually looking for more weakness to complete a five-wave cycle of the lower degree. So, watch our for a short-term bearish continuation into lower support levels down to 1.41 – 1.40 area after an intraday 4th wave pullbacks.
Even GBPCAD pair has room for more downside pressure to complete a five-wave cycle within wave C with room down to 1.65 – 1.60 support zone, just be aware of short-term 4th wave pullbacks.
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GBPJPY Can Be Eyeing 190 Area. Check our blog HERE.