• 2 hours Rise Of EVs Signals Peak Gasoline
  • 20 hours Jeff Bezos Doubles Down On Space Colonization Ambitions
  • 1 day Gold Mining Stocks Stuck In Limbo
  • 2 days Executive Order Targets Huawei Over Espionage
  • 2 days Why Now May Be The Best Time Ever To Hold Gold
  • 3 days Fake News Sinks Shares In UK-Based Bank
  • 3 days De Beers To Build $468 Million Diamond Recovery Ship
  • 3 days Moody's: Turkey Faces Possible Credit Downgrade
  • 3 days Tesla's Solar Sales Are Slipping
  • 4 days Auto Industry To Get Temporary Tariff Relief
  • 4 days Welcome To The World’s Biggest Free Trade Area
  • 4 days Central Banks Are Stockpiling Gold At The Fastest Rate In Half A Decade
  • 4 days U.S.-China Impasse Threatens Rare Earth Trade
  • 5 days Wall Street Bears $1 Trillion Brunt Of Trade War
  • 5 days Mobile Sports Betting Isn’t Quite Minting Millionaires Just Yet
  • 5 days The Marijuana Industry’s Shocking Secret
  • 5 days A Generational Shift Is Quietly Unfolding In The Mining Industry
  • 6 days Pentagon To Pay $6 Billion To Help Build Border Wall
  • 6 days Beijing Backlash: Stocks Slammed, Gold Boosted
  • 6 days Market Sentiment At Its Lowest In 10 Months
Strong U.S. Dollar Weighs On Blue Chip Earnings

Strong U.S. Dollar Weighs On Blue Chip Earnings

Earnings season is well underway,…

How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analyisis On USDCAD And Crude OIL

USDCAD

USDCAD is on the rise, breaking above some important trendline from the 4h chart, so looks like that higher prices are coming. We are looking at three waves of recovery for now, which can either be a corrective move or start ofa new impulse, but in both cases there is room for 1.3300 in the short-term.

USDCAD, 1H

USDCAD 1-Hour Chart


Crude OIL

Crude oil is now making a minor consolidation within impulsive extended wave 3. We see price in small blue wave iv-circled that can be also similar in distance compared to wave two-circled, so keep an eye on resistance around 36.70 where we also see 38.2% Fibonacci retracement level compared to wave one. That's very strong region then that can cause a new leg down later today.

Crude OIL, 1H

Crude Oil 1-Hour Chart

 


If you like our trading analysis, you can visit our website at --> www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment