• 764 days Will The ECB Continue To Hike Rates?
  • 765 days Forbes: Aramco Remains Largest Company In The Middle East
  • 766 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,166 days Could Crypto Overtake Traditional Investment?
  • 1,171 days Americans Still Quitting Jobs At Record Pace
  • 1,173 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,176 days Is The Dollar Too Strong?
  • 1,176 days Big Tech Disappoints Investors on Earnings Calls
  • 1,177 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,179 days China Is Quietly Trying To Distance Itself From Russia
  • 1,179 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,183 days Crypto Investors Won Big In 2021
  • 1,183 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,184 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,186 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,187 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,190 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,191 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,191 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,193 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…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis For USDCAD - Three Wave Rally

Canadian Dollar (Forex: USDCAD) is at new high after very sharp reversal from 1.0267 swing low. We have reworked out previous bearish Elliott wave count for USDCAD. We are tracking a new count now which still shows a three wave rise from 1.0180.

Elliott wave patterns suggest that recent move is an expanded flat correction in wave (b)/ (ii). The only question now is if current leg up is wave (c) of a three wave retracement or is it wave (iii) of a new impulsive rally that will send USDCAD much higher in days ahead. For now it's too soon to confirm any scenario but we definitely need to see a reversal down from around 1.0500 region that could be a next projected zone.

USDCAD 4h Elliott Wave Analysis Chart

USDCAD 4-Hour Elliott Wave Analysis Chart

Expanded Flat Elliott Wave Pattern

Expanded Flat has internal structure of 3-3-5 sub waves where wave B moves beyond the start of wave A. Wave C ends more substantially beyond the ending level of wave A and it appears in wave two or four in an impulse, wave B in an A-B-C, wave X in a double or triple zig-zag, or wave Y in a triple threes.

 


Written by www.ew-forecast.com | Try 7 Days Free Trial >> Here * No Credit Card Required.

 

Back to homepage

Leave a comment

Leave a comment