• 705 days Will The ECB Continue To Hike Rates?
  • 705 days Forbes: Aramco Remains Largest Company In The Middle East
  • 707 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,107 days Could Crypto Overtake Traditional Investment?
  • 1,111 days Americans Still Quitting Jobs At Record Pace
  • 1,113 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,116 days Is The Dollar Too Strong?
  • 1,117 days Big Tech Disappoints Investors on Earnings Calls
  • 1,118 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,119 days China Is Quietly Trying To Distance Itself From Russia
  • 1,120 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,124 days Crypto Investors Won Big In 2021
  • 1,124 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,125 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,127 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,127 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,131 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,131 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,132 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,134 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

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…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On USDCAD And EURUSD

USDCAD

USDCAD is moving slower to the downside for the last few sessions so it appears that top has been reached near 1.3015, but only temporary as we see that leg up from 1.2460 as first wave within big corrective recovery. We are looking at temporary set-back now in blue wave B which will ideally find a support at 1.2750 -1.2790 after a 3-wave drop.

USDCAD, 1H

USD/CAD 1-Hour Chart


EURUSD

We can see EURUSD turning slightly higher, so finally a correction is now in play with an A-B-C structure for 1.1480 NFP spike high? Keep in mind that in a week after the NFP, highs/lows of NFP are hit more than 90% of the time so we would not be surprised to see some stops of cleared out at that area before market turns sharply to the downside.

EURUSD, 1H

EUR/USD 1-Hour Chart
Larger Image

 


Are you also wondering where are the other FX pairs headed short-term? We have special intraday updates for active day traders. For more details, visit our page at www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment