The EUR/CAD pair has recently been in a very dynamic growth. From December to March the course was moving in a quite wide consolidation, from which recently broke up thru the upper edge. After a slight correction, the price started to rise again, indicating a likely bullish trend. Breaking the last high can open up a great deal of space for further growth.
Weekly chart shows that current reflection has its origin at the line joining the last two lows. From this perspective, it is possible to estimate the initial range of increases to the line joining the last two highs, which gives quite a lot of space anyway.
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At the H4 interval there has already been a break of correction line, and a rapid return to growth indicates that the correction was a typical re-test of the broken resistance. The fight is currently under way to set a new maximum for the upward trend, which should mean further increases.
