EUR/CAD is trading bullish since late April of 2017. We see current rise as blue wave three, that can be part of a new five wave rise. Fibonacci projection measured from fifth of May high towards the ten of May low indicates a reversal zone, that can come in around 161.8 region. That is where we think blue wave five can terminate and a new three wave contra-trend reaction may follow.

EURCAD, 4H

Here is also a video of Elliott Wave Analysis regarding the NZD/JPY and S&P500