EURCAD made a nice five-wave breach below the lower corrective channel line and below the 1.5173 area, which we labeled it as blue wave v of a bearish impulse.
This blue wave v can in sessions ahead look for a new region of support around the 138.2, from where a minimum three-wave rally can follow.
EURCAD, 1h
Nasdaq is currently trading in a complex recovery from the lows, a w)-x)-y) pattern which is a contra-trend reaction to the previous five-wave fall. We specifically see sub-wave c of y) in play, which can look for resistance and a bearish continuation at the Fibonacci ratio of 38.2 or 50.0. Also, the upper trendline can slows bulls down.
Nasdaq, 1h
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