• 6 hours Why Germany Is Going To War With Gold
  • 1 day Gold Is Still Cheap Compared To Stocks
  • 2 days Are Cryptocurrencies Funding Terrorism?
  • 2 days Promising Oil Companies To Watch In 2020
  • 3 days Could China's Coronavirus Outbreak Impact U.S. Stocks?
  • 3 days Tesla Stock Continues To Soar
  • 4 days What New Economic Data Reveals About Gold's Trajectory
  • 5 days The Lucrative New Tech Hijacking Your Privacy
  • 5 days The Biggest Loser In The China-U.S. Tariff Tit-For-Tat
  • 6 days Trade War Takes Its Toll On Shipping
  • 8 days Is $90 Oil Possible? An Interview With Jay Park
  • 9 days Billions Of Dollars Are Flooding Into The Flying Taxi Space
  • 9 days Is This The Most Important Energy Project Of 2020?
  • 10 days Startups Are Dying To Give You A Better Death
  • 10 days U.S. Restaurants Are Struggling With Rising Labor Costs
  • 11 days The Banking Bonanza Is Just Getting Started
  • 11 days How The Trade War Ceasefire Will Impact The Energy Industry
  • 12 days Who Is The Most Dangerous Person On The Internet?
  • 12 days SoftBank Sees First Quarterly Loss In 14 Years
  • 14 days Prepare For An Oil Glut In 2020
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

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…

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to…

Contact Author

  1. Home
  2. Markets
  3. Other

USDCAD Short Term Elliott Wave: Turning Lower

Preferred Elliott Wave view in USDCAD suggests that the pair is showing a 5 swing bearish sequence from 12/28 high, favoring more downside. Short term, decline to 1.2965 ended Minor wave W and Minor wave X bounce is proposed complete as a triple three structure where Minute wave ((w)) ended at 1.3102, and Minute wave ((x)) ended at 1.2976. Minute wave ((y)) ended at 1.3135, Minute second wave ((x)) ended at 1.307, and Minute wave ((z)) of X ended at 1.3212. Near term, while bounces stay below 1.3212, but more importantly below 1.3388, expect pair to turn lower. We don't like buying the pair and provided that pivot at 1/20 high (1.3388) stays intact, we expect pair to resume lower or at least pullback in 3 waves to correct the cycle from 1/31 low (1.2965).


USDCAD 1 Hour chart

USD/CAD 1-Hour Elliott Wave Analysis Chart
Larger Image


Elliott Wave Degree

 


At Elliottwave-Forecast, we offer 24 hour coverage of 52 instruments from Monday - Friday using Elliott Wave Theory as primary tools of analysis. We provide Elliott Wave chart in 4 different time frames, up to 4 times a day update in 1 hour chart, two live sessions by our expert analysts, 24 hour chat room moderated by our expert analysts, market overview, and much more! With our expert team at your side to provide you with all the timely and accurate analysis, you will never be left in the dark and you can concentrate more on the actual trading and making profits. Check out our 14 day Trial to sample everything we have to offer.

 

Back to homepage

Leave a comment

Leave a comment