• 38 mins Miners Are Weathering The Trade War Storm
  • 4 hours UK Credit Card Interest Rates Are Skyrocketing
  • 21 hours From Frenzy To Flop, The Death Of This Year’s Most Hyped IPO
  • 1 day Are Smart TVs Spying On Us?
  • 1 day Is Fossil Fuel Divestment A Waste Of Time?
  • 2 days A Russian Billionaire’s Space Quest To Save Humanity
  • 2 days Markets Take Breather As Consolidation Continues
  • 2 days Economic Woes Weigh On Copper Prices
  • 2 days World's Largest IPO At Risk Following Drone Strikes
  • 3 days Gold Is Beating Buffett’s Berkshire Hathaway
  • 3 days What’s Behind The Silver Sell-Off?
  • 3 days The Retail Apocalypse Is Accelerating
  • 3 days The Top Tech Stocks Of The Year
  • 4 days America’s Workforce Elderly Workforce To Double By 2028
  • 4 days Toyota Tests Solar-Powered Prius
  • 5 days Why The Gold Rally Flatlined
  • 5 days The Uranium Sector Can’t Catch A Break
  • 6 days Upcoming Fed Meeting Has Investors On Edge
  • 6 days Global Gold Sector Outlines Responsible Mining Principles
  • 7 days China’s Giant Vampire Fund Loses $120B
Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

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…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis: EURUSD And USDCAD

EURUSD

New home sales report will be watched during the US. EURUSD is still on the downside trajectory with current price action in the final stages of an extended blue wave 3, specifically in sub-wave v). We believe that blue wave iii, can find it's support around 1.110 zone, where the Fibonaccio ratio of 161.8 can react as a turning point into a corrective blue wave four. Ideally this corrective wave four will then touch levels around 1.123 region of a formal wave iv), which can react as a resistance and a turning point into lower levels.

Invalidation level is at 1.13580, as long as it hold, we are looking to the downside.

EURUSD, 1H

EUR/USD 1-Hour Chart


USDCAD

USDCAD is still on the upside move after a few minor corrections. Current pullback we see as a flat formation pattern with support seen around 1.3098 levels from where we could continue to go higher and complete the black wave 3 around 1.2340 levels. So advance is still incomplete since we don't yet have a clear five wave move, meaning we stay bullish on this pair until a five wave sequnece is visible.

USDCAD, 1H

USD/CAD 1-Hour Chart

 


Interested in our services ? We have a Special Offer : Get First 2 Months For The Price Of 1!! Grab the opportunity now at www.ew-forecast.com

 

Back to homepage

Leave a comment

Leave a comment