EURCAD rested on a key support 1.36607 6th of September 2013 thereby establishing a complete corrective wave B leg. The wave B leg, resulting from the shocking septaper surprise- The Federal Reserve Monetary Policy news which must have affected the Canadian dollar interest rate.
Therefore, on this key note we expect the EURCAD pair to keep soaring high following a bullish channel up to a price target of 1.4144 and consequently kissing the key resistance at 1.4240.
Completion of this wave leg could send the EURCAD pair 61.8% of the fibonacci price down to wave leg 2 with a price tag of 1.3808.
NOTE: Price predictions produced by FibonacciPrice&PatternTrader may be affected by unforseen events like hurricane, earth quake, flood and other natural disasters consequently changing price patterns already predicted. Hence we advice strict adherence to money management techniques.
HAPPY TRADING
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