• 2 days How To Invest In The Cybersecurity Boom
  • 4 days Investors Are Patient With Unprofitable Giants
  • 6 days Wells Fargo Back In The Scandal Spotlight Once Again
  • 8 days 5 Stocks To Keep A Close Eye On This Year
  • 9 days As Auto Giants Flail, Look To Chip Stocks For Gains
  • 10 days Central America Is Ready For The Bitcoin Hustle
  • 12 days China’s Video Game Restrictions Unlikely To Slow Down Booming Industry
  • 13 days Top Performing Stocks As Inflation Fears Grow
  • 14 days US Airline Stocks Take A Beating On New EU Restrictions
  • 15 days This IPO Could Open Sustainable Fashion Floodgates
  • 16 days Crypto Crime Nets Another $2B Fraudster
  • 18 days This Week’s Hottest Meme Stocks
  • 19 days Why World Markets Should Be Watching Germany Closely
  • 21 days Could ‘Cultured’ Meat Rival The Plant-Based Megatrend?
  • 24 days ‘Easy Money’: Crypto Is Still Attracting Newbie Investors
  • 25 days Foreign Syndicates May Have Stolen Up To $400B In COVID Benefits
  • 26 days Gold Jumps Above $1800 Ahead Of Jackson Hole Summit
  • 26 days International Banks Blacklist Afghanistan Following Taliban Takeover
  • 28 days China’s Tycoons Are Getting A Serious Reality Check
  • 29 days U.S. Cannabis Space Heats Up With Telling Tilray Acquisition
Gregor Horvat

Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for…

Contact Author

  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