• 3 hours Gold Hangs At $1,300 Ahead Of Fed Meeting
  • 5 hours Champagne Sales Slow As European Economic Worries Grow Louder
  • 21 hours Putin Signs “Digital Iron Curtain” Into Law
  • 24 hours Russian Metals Magnate Sues U.S. Over Sanctions
  • 1 day Tesla Looks To Jump Into Indian Market
  • 1 day Global Banks Lay Groundwork To Re-Inflate Asset Prices
  • 2 days Homeowners Experiment With Risky New Investment Trend
  • 2 days U.S. Tech Stocks Look Increasingly Vulnerable
  • 2 days De Beers To Expand World’s Most Profitable Diamond Mine
  • 2 days Ford CEO Gets Raise After Massive Layoff Round
  • 3 days Germany’s Flirtation With Recession Could Cripple The Global Economy
  • 3 days Where To Look As Gold Miners Inch Higher
  • 4 days Google Faces Billions In Fines From European Regulators
  • 4 days The Energy Industry Has A Millennial Problem
  • 5 days Russian Banks Scramble For Sanction Loopholes
  • 5 days Gold ETFs Take A Hit After Four-Month Run
  • 6 days European Union Takes Aim At Ten New Tax Havens
  • 6 days Goldman Defends Trillion-Dollar Corporate Buyback Spree
  • 6 days $600 Billion At Risk As Boeing Fallout Continues
  • 6 days Venezuela Has Yet Another Crisis Developing
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…

  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