• 685 days Will The ECB Continue To Hike Rates?
  • 685 days Forbes: Aramco Remains Largest Company In The Middle East
  • 687 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,087 days Could Crypto Overtake Traditional Investment?
  • 1,092 days Americans Still Quitting Jobs At Record Pace
  • 1,094 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,097 days Is The Dollar Too Strong?
  • 1,097 days Big Tech Disappoints Investors on Earnings Calls
  • 1,098 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,100 days China Is Quietly Trying To Distance Itself From Russia
  • 1,100 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,104 days Crypto Investors Won Big In 2021
  • 1,104 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,105 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,107 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,108 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,111 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,112 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,112 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,114 days Are NFTs About To Take Over Gaming?
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…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On Crude OIL And USDCAD

Crude OIL

It seems that we will see more upside on crude oil soon as current minor retracement from yesterday highs looks corrective. It can be wave iv) within wave five of 3 that can be targeting 52-53 area, where market may also find some resistance for a pullback down into wave 4. Based on bigger charts, we see black wave 3 in late stages.

Crude OIL, 1H

rude Oil 1-Hour Chart


USDCAD

USDCAD fell down from 1.3310 but it made overlap with 1.3224, thus move down is not impulsive which means that it was only a pullback, maybe of wave 4) that belongs to an ending diagonal. If we are correct then another push up to 1.3350 area is coming by the end of the week before we may start turning bearish on this one. For now it's too soon, at least while 1.3047 holds.

USDCAD, 1H

USD/CAD 1-Hour Chart

 


Interested in our services? We have a Special Offer: Get 14 Days Access For 1€!! Grab the opportunity now at www.ew-forecast.com You can even subscribe to our Twitter account -> @ewforecast

 

Back to homepage

Leave a comment

Leave a comment