• 686 days Will The ECB Continue To Hike Rates?
  • 686 days Forbes: Aramco Remains Largest Company In The Middle East
  • 688 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,087 days Could Crypto Overtake Traditional Investment?
  • 1,092 days Americans Still Quitting Jobs At Record Pace
  • 1,094 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,097 days Is The Dollar Too Strong?
  • 1,097 days Big Tech Disappoints Investors on Earnings Calls
  • 1,098 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,100 days China Is Quietly Trying To Distance Itself From Russia
  • 1,100 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,104 days Crypto Investors Won Big In 2021
  • 1,104 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,105 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,108 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,108 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,111 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,112 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,112 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,114 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

  1. Home
  2. Markets
  3. Other

GBPUSD and USDCAD Intraday: Elliott Wave Analysis

GBPUSD spiked higher but turned back to 1.5400 very fast, which makes me think that pair is still in wave B correction, which will make an irregular formation. That said, traders must be aware of a lower levels still, down into wave (c) that can retrace for 38.2% compared to wave A distance.

GBPUSD 1h Elliott Wave Analysis

GBPUSD 1-Hour Elliott Wave Analysis Chart

Range on USDCAD is still contracting but sideways price action can run out of room soon. As such, we think that breakout will follow soon, ideally in the next 24 hours, which will be to the upside as we see red wave 4) at the end. Notice that we labeled a triangle within a triangle, the last one seen in wave E which is very bullish scenario, but we still need move above 1.3323 to confirm more gains ahead.

USDCAD 1h Elliott Wave Analysis

USDCAD 1-Hour Elliott Wave Analysis Chart

 


What Can You Get For 1€? At ew-forecast.com Try 1 Month Full Service >> http://www.ew-forecast.com/register
Want to receive more insights like these, free? We'd be happy to email them to you. Join our mailing list >> http://goo.gl/0KctEr

 

Back to homepage

Leave a comment

Leave a comment