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Based on the Elliott Wave count we can tell that EUR/CAD is at the beginning of resuming its long term downtrend. On a weekly chart we can discern an WXY pattern which can be subdivided into wxy patterns of smaller degree. Right now we're testing an historical level 1.4500 which has provided good resistance in the last few years.
Major Levels to watch:
Major Levels to watch:
- 1.4500 Big round number and psychological number, Resistance level;