• 4 hours Russia Condemns Trump’s Space Mining Order
  • 20 hours The Chinese Billionaires Defying COVID Losses
  • 1 day Trump Signs Executive Order To Protect Private Moon Miners
  • 2 days Renters Are Striking As COVID Reshapes Real Estate
  • 2 days Nothing Can Stop The Tesla Boom
  • 3 days 9 Ways The Lockdown Is Playing Out Around The World
  • 3 days WeWork Sues SoftBank For Withdrawing $3 Billion Insider Payoff
  • 4 days Solving Transportation’s Biggest Problem
  • 4 days Big Banks Could Win Big On Fed Small Business Bailout
  • 4 days Trump Increases Pressure On Venezuela
  • 4 days Researchers Create Organic Battery
  • 5 days Gold Is Still A Safe Haven, But Not Very Alluring
  • 5 days China Is Buying Up Billions Of Barrels Of Cheap Crude Oil
  • 6 days Are Gold Stocks Going To Bounce Back?
  • 6 days The Politics Of A Pandemic
  • 7 days What Does CHina’s EV Slowdown Mean For The Battery Metals Sector?
  • 8 days COVID Report Cards Will Brand Businesses Forever
  • 8 days Trump Tweet Sends Oil Soaring 25%
  • 9 days Why The Coronavirus Economic Crash Is Worse Than You Think
  • 9 days Is A Global Currency Necessary?
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for…

Contact Author

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On AUDUSD And USDCAD

AUDUSD

News of the day is that BOJ did not add stimulus on lasts night meeting and Japan currency got stronger against almost all other counterparts and Nikkei 225 moved sharply down dragging other stock markets with it. Since there is a correlation of the stock market and AUDUSD, this pair is moving down now in the fift wave with possible support seen around 0.7503. After that we expect to see an A), B) and C) pullback with resistance around 0.7648 levels.

AUDUSD, 1H

AUD/USD 1-Hour Chart

USDCAD

USDCAD is still troubling to complete an ending diagonal pattern in the final fifth wave. We still see some room left for the completion of this pattern. Our potential support level is around 1.2430 region and we may expect to see a sharp reversal from there. Be aware that also ending diagonals can overshoot sharply to the downside, before upward reaction may follow.

USDCAD, 1H

USD/CAD 1-Hour Chart

 


Are you also wondering where is the AUDUSD or USDCAD headed Long-term? We have special daily updates for active traders. For more details, visit our page at www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment