EUR/CAD bounces back: Reaction higher from blue box area

In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of EURCAD. In which, the rally from 02 September 2025 low unfolded as impulse sequence & showed a higher high sequence therefore, called for an extension higher to take place. We knew that the structure in EURCAD should remain supported & extend higher. So, we advised members not to sell the pair & buy the dips in 3, 7, or 11 swings at the blue box areas. We will explain the structure & forecast below:

EUR/CAD one-hour Elliott Wave chart from 9.19.2025

Here’s the 1-hour Elliott wave Chart from the 9.19.2025 Asia update. In which, the rally to 1.6359 high completed small wave (i) & made a pullback in wave (ii). The internals of that pullback unfolded as Elliott wave zigzag correction where small wave a ended at 1.6258 low. Then small bounce to 1.6313 high-ended small wave b. Then started the next leg lower in wave c towards 0.6203- 1.6135 blue box area. From there, buyers were expected to appear looking for new highs ideally or for a 3-wave bounce minimum.

EUR/CAD latest one-hour Elliott Wave chart from 9.29.2025

This is the latest 1-hour Elliott wave Chart from the 9.29.2025 London update. In which the pair is showing a strong reaction higher taking place, right after ending the correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. However, a break above 1.6359 high is needed to confirm the next extension higher towards 1.6404- 1.6476 area minimum & avoid double correction lower.