• 1 hour Trump Lifts Metals Tariffs To Cool Simmering Trade War
  • 4 hours Researchers Push To Limit Space Mining
  • 6 hours Could China Start Dumping U.S. Treasury Bonds?
  • 22 hours Is Winter Coming For HBO?
  • 1 day Rise Of EVs Signals Peak Gasoline
  • 2 days Jeff Bezos Doubles Down On Space Colonization Ambitions
  • 2 days Gold Mining Stocks Stuck In Limbo
  • 3 days Executive Order Targets Huawei Over Espionage
  • 3 days Why Now May Be The Best Time Ever To Hold Gold
  • 4 days Fake News Sinks Shares In UK-Based Bank
  • 4 days De Beers To Build $468 Million Diamond Recovery Ship
  • 4 days Moody's: Turkey Faces Possible Credit Downgrade
  • 4 days Tesla's Solar Sales Are Slipping
  • 5 days Auto Industry To Get Temporary Tariff Relief
  • 5 days Welcome To The World’s Biggest Free Trade Area
  • 5 days Central Banks Are Stockpiling Gold At The Fastest Rate In Half A Decade
  • 5 days U.S.-China Impasse Threatens Rare Earth Trade
  • 6 days Wall Street Bears $1 Trillion Brunt Of Trade War
  • 6 days Mobile Sports Betting Isn’t Quite Minting Millionaires Just Yet
  • 6 days The Marijuana Industry’s Shocking Secret
Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis On USDJPY And USDCAD

USDJPY

USDJPY is trading quite nicely, now in a probable corrective blue wave iv as part of a higher degree impulse. If that is correct, then we can say that red wave a) and b) are already over and an ideal drop may be in the cards for the final sub-wave c). The support for this whole corrective structure may be seen around the former wave iv) at the 107.76 level, from where bears may slow down and bulls can take over.

USDJPY, 1H

USDS/JPY 1-Hour Chart


USDCAD

USDCAD keeps trading lower, ideally within a higher degree wave 1 with almost all five needed sub-waves visible. As we can see on the chart, we are tracking a possible leading diagonal in the first wave 1, a reversal pattern that can after its completion push price higher within the upcoming wave 2 correction. At the moment we still need one more push to the downside, before this three wave consolidation may follow.

USDCAD, 1H

USD/CAD 1-Hour Chart

When diagonal triangles occur in the fifth or C wave position, they take the 3-3-3-3-3 shape that Elliott described. However, it has recently come to light that a variation on this pattern occasionally appears in the first wave position of impulses and in the A wave position of zigzags. The characteristic overlapping of waves one and four and the convergence of boundary lines into a wedge shape remain as in the ending diagonal triangle. However, the subdivisions are different, tracing out a 5-3-5-3-5 pattern.

Basic Leading Diagonal Pattern:

Idealized Elliott Wave Leading Diagonal Pattern

 


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