• 751 days Will The ECB Continue To Hike Rates?
  • 751 days Forbes: Aramco Remains Largest Company In The Middle East
  • 753 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,153 days Could Crypto Overtake Traditional Investment?
  • 1,158 days Americans Still Quitting Jobs At Record Pace
  • 1,160 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,163 days Is The Dollar Too Strong?
  • 1,163 days Big Tech Disappoints Investors on Earnings Calls
  • 1,164 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,166 days China Is Quietly Trying To Distance Itself From Russia
  • 1,166 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,170 days Crypto Investors Won Big In 2021
  • 1,170 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,171 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,173 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,174 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,177 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,178 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,178 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,180 days Are NFTs About To Take Over Gaming?
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

  1. Home
  2. Markets
  3. Other

GOLD and USDCAD Intraday: Elliott Wave Analysis

GOLD is falling today, away from 1296 where we see a completed wave iv, so current weakness represents a fifth wave, final leg of an impulsive sell-off from 1322, or maybe even from 1345 if we consider a potential three wave decline from that July highs. We see some supports from 1265 to 1250 from where we may get a bounce in price. If that would be in impulsive fashion then we will turn immediately bullish.

GOLD 1h Elliott Wave Analysis

GOLD 1-Hour Elliott Wave Analysis Chart

Five waves down from the highs, followed by a three wave rally is a bearish pattern that is pointing south on USDCAD. We are looking for an (a)-(b)-(c) drop away from 1.0995 where wave (c) may test 1.0800 before we look for a new bounce.

USDCAD 1h Elliott Wave Analysis

USDCAD 1-Hour Elliott Wave Analysis Chart

 


Subscribe Our Newsletter If you already didn't >> http://goo.gl/8QVevl

 

Back to homepage

Leave a comment

Leave a comment