• 11 hours Morgan Stanley And Goldman Sachs Are Betting Big On This Budding Industry
  • 12 hours Global Corporate Debt Soars To $9 Trillion
  • 14 hours The Fed’s Slippery Slope
  • 16 hours Precious Metals Pulled Ahead Of The Pack In The First Half Of 2020
  • 17 hours Tesla Faces $20 Billion In Short Interest
  • 18 hours China's Economic Recovery Remains Tepid
  • 20 hours Silver Inches Closer To $20
  • 21 hours The Secret Life Of Lithium
  • 1 day The Pandemic Proof $53 Billion Industry Wall Street Can’t Ignore
  • 2 days Will Gold Hit $2,000?
  • 2 days Trump’s Proposed Regulation Could Slow The ESG Boom
  • 2 days India To Auction 41 Coal Assets
  • 3 days Eldorado Sees Gold Production Soar In Second Quarte
  • 4 days Do Gold Stocks Still Have Upside Potential?
  • 4 days The S&P 500’s Top Companies Hold $2.5 Trillion In Debt
  • 5 days Electric Vehicle Rebound Bolsters Battery Metal Growth
  • 5 days BlackRock Makes A Run On Asian Stocks
  • 6 days Gold Prices Surge Above $1,800
  • 6 days Chinese Stocks Soar On Bullish Economic Data
  • 7 days Apple’s “Holy Grail Of Data” Leaves Energy Traders Disappointed
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

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