EURCAD BULLISH BIAS WITH FIBONACCI AND ELLIOT WAVES PROGRESSION

EURCAD broke out of a falling wedge with a massive rally...It has now corrected to the 50% fibonacci level which has been holding for the past couple of weeks...Following Elliot Waves, wave two of the initial impulse wave is almost over and we should be expecting a kick off of wave three with a long rally to the upside...using fibonacci extension toolm we should expect a rally to around 1.77 before seeing a correction into wave four...an invalidation of this analysis will be seen if price breaks market structure and breaks below the 78.6 key fibonacci level...