• 4 mins U.S. Tech Stocks Look Increasingly Vulnerable
  • 3 hours De Beers To Expand World’s Most Profitable Diamond Mine
  • 5 hours Ford CEO Gets Raise After Massive Layoff Round
  • 21 hours Germany’s Flirtation With Recession Could Cripple The Global Economy
  • 1 day Where To Look As Gold Miners Inch Higher
  • 2 days Google Faces Billions In Fines From European Regulators
  • 2 days The Energy Industry Has A Millennial Problem
  • 3 days Russian Banks Scramble For Sanction Loopholes
  • 3 days Gold ETFs Take A Hit After Four-Month Run
  • 4 days European Union Takes Aim At Ten New Tax Havens
  • 4 days Goldman Defends Trillion-Dollar Corporate Buyback Spree
  • 4 days $600 Billion At Risk As Boeing Fallout Continues
  • 4 days Venezuela Has Yet Another Crisis Developing
  • 5 days Wells Fargo Accused Of “Ongoing Lawlessness”
  • 5 days Hollywood Agency Returns $400M Investment To Saudi Wealth Fund
  • 5 days Why Twitter's CEO Is Backing A New Bitcoin Boom
  • 5 days U.S. Treasury To Employ “Extraordinary Measures” To Fend Off Default
  • 6 days Lobster, Golf Carts And Fidget Spinners: What’s In The Federal Budget?
  • 6 days Italy Launches New Welfare Experiment
  • 6 days There Is No Catch-All Solution To Climate Change
Lending: The Good, Bad, And Ugly

Lending: The Good, Bad, And Ugly

Aristotle said, “The most hated…

The Chatroom Cartel Running Global Bond Markets

The Chatroom Cartel Running Global Bond Markets

Eight major banks have been…

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to…

Contact Author

  1. Home
  2. Markets
  3. Other

USDCAD Short-Term Elliott Wave Analysis

Short term Elliott Wave cycle suggests bounce to 5117.3 ended wave (X). First leg of decline from this level unfolded in a zigzag and ended wave W at 4847. Wave X bounce is proposed complete at 4926 and the Index has resumed lower again. Decline from 4926.2 unfolded in 5 waves and ended wave (a) at 4804.7. Wave (b) bounce is currently in progress towards 4865 - 4879 area before the Index resumes lower again, provided that wave X pivot at 4926 stays intact.

As an alternate view, the decline from Wave (X) at 5117.3 to the last low at 4804.7 can be in 5 waves and ended wave A. If this is the case, then Index can now bounce in wave B to correct the entire decline from 5117.3 before resuming lower again. In other words, we expect more downside in the Index against 4926.2 in the first degree. If this pivot fails, then we expect more downside in the Index against 5117.3 in the second degree.

USDCAD Short-Term Elliott Wave Analysis Chart
Larger Image

 


If you would like to have an access of EWF analysis in real time, click here and feel free to join us. We provide Elliott Wave charts in 4 different time frames, 2 live webinars by our expert analysts every day, 24 hour chat room support, market overview, daily and weekly technical videos and much more.

 

Back to homepage

Leave a comment

Leave a comment