• 746 days Will The ECB Continue To Hike Rates?
  • 747 days Forbes: Aramco Remains Largest Company In The Middle East
  • 748 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,148 days Could Crypto Overtake Traditional Investment?
  • 1,153 days Americans Still Quitting Jobs At Record Pace
  • 1,155 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,158 days Is The Dollar Too Strong?
  • 1,158 days Big Tech Disappoints Investors on Earnings Calls
  • 1,159 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,161 days China Is Quietly Trying To Distance Itself From Russia
  • 1,161 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,165 days Crypto Investors Won Big In 2021
  • 1,165 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,166 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,168 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,169 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,172 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,173 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,173 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,175 days Are NFTs About To Take Over Gaming?
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

  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