• 5 hours Homeowners Experiment With Risky New Investment Trend
  • 8 hours U.S. Tech Stocks Look Increasingly Vulnerable
  • 11 hours De Beers To Expand World’s Most Profitable Diamond Mine
  • 13 hours Ford CEO Gets Raise After Massive Layoff Round
  • 1 day Germany’s Flirtation With Recession Could Cripple The Global Economy
  • 1 day Where To Look As Gold Miners Inch Higher
  • 2 days Google Faces Billions In Fines From European Regulators
  • 2 days The Energy Industry Has A Millennial Problem
  • 3 days Russian Banks Scramble For Sanction Loopholes
  • 3 days Gold ETFs Take A Hit After Four-Month Run
  • 4 days European Union Takes Aim At Ten New Tax Havens
  • 4 days Goldman Defends Trillion-Dollar Corporate Buyback Spree
  • 4 days $600 Billion At Risk As Boeing Fallout Continues
  • 5 days Venezuela Has Yet Another Crisis Developing
  • 5 days Wells Fargo Accused Of “Ongoing Lawlessness”
  • 5 days Hollywood Agency Returns $400M Investment To Saudi Wealth Fund
  • 5 days Why Twitter's CEO Is Backing A New Bitcoin Boom
  • 6 days U.S. Treasury To Employ “Extraordinary Measures” To Fend Off Default
  • 6 days Lobster, Golf Carts And Fidget Spinners: What’s In The Federal Budget?
  • 6 days Italy Launches New Welfare Experiment
The Chatroom Cartel Running Global Bond Markets

The Chatroom Cartel Running Global Bond Markets

Eight major banks have been…

Lending: The Good, Bad, And Ugly

Lending: The Good, Bad, And Ugly

Aristotle said, “The most hated…

  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