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EURCAD continues to rise inside the impulse wave 3 which earlier broke through the resistance area lying between the resistance level 1.55400 (monthly high from May) and the 50% Fibonacci correction of the previous correction A from March. With the markets in the strong pro-euro and moderate anti-CAD mood today – EURCAD is likely to extend the gains toward the next resistance level 1.58000 (forecast for the end of wave 3 and the former (ii) correction high from March).
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