Long

EURCAD Secondary bullish wave ahead.

The EURCAD pair is consolidating on the 1D time-frame above both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). This analysis is basically an update on July's pull-back buy idea (see chart below):

EURCAD above the 1D MA50, aiming at 1.49250 by end of the month.

The price is now entering the secondary bullish wave of this sequence, continuing to mirror the February - April fractal. However, we do have to lower our final target to 1.50190, which is the 1.236 Fibonacci extension, as the current sequence appears to be shorter than the one of February - April.

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