The EURCAD is in a complex correction so we have to focus on the main characteristics. We see many overlaps which is almost always a corrective sign, with 7 waves and 7 is an extension of 3 which is a corrective count. We also saw this happening after a bullish impulse which I counted as a wave A. Therefore I still like to see a move higher to test 1.49. However we might see a truncated wave C so we need to be careful and trade what we see, this is why the safest trade will be a bullish break followed by a consolidation to buy the continuation.
EURCAD is coming close to a possible conservative entry. I personally favored CADCHF for trading but EURCAD is moving as anticipated. Watch for consolidation and potential buy.
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Guy's we saw the break, if you are not already in the trade look for minor consolidations and buy the continuation. Blue dotted lines represent my ideal target zone for wave C.
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Keep looking for consolidations and buy continuation because we most likely move higher towards at least 1.482 and 1.493-1.50 respectively.