• 15 hours Walmart Reaches Out To Chilean Government For Protection
  • 19 hours The Most Exciting Gold Find Of The Decade
  • 21 hours Mining Boom Sparks Deforestation Concerns
  • 2 days The Cannabis Culling Has Wall Street Disappointed
  • 2 days Vigilante Offers $100,000 Bounty To Hack Banks
  • 3 days The Dairy Industry Is Dying
  • 3 days The Most Impressive Electric Vehicle Of The Year
  • 4 days Gold Miners Are Having A Stellar Second Half
  • 5 days How 3D Printing Is Turning Each And Every Industry On Its Head
  • 5 days Is The $3.5 Trillion Healthcare Industry About To Get Much More Transparent?
  • 6 days Gamblers Are Betting Big On Trump’s Impeachment
  • 6 days Even Banks Can't Answer Aramco's Trillion Dollar Question
  • 7 days Will Bezos Buy The Seattle Seahawks?
  • 7 days 6 Tech Trends Transforming The Travel Industry
  • 8 days Ousted Uber CEO Cashes Out $500 Million In Stock
  • 8 days Trump Prepares For Another Key Tariff Decision
  • 8 days The Free Money Bubble Is About To Burst
  • 9 days The Crushing Reality Of Poverty In America
  • 9 days Should You Buy Into The World’s Largest IPO?
  • 9 days The Infinite Possibilities Of Cosmic Energy
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

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

Elliot Wave Forecast - 08/04

Short term USDCAD Elliott Wave view suggests the decline to 1.2411 ended Intermediate wave (3) of an Elliott Wave impulse structure from 6/2 peak. Intermediate wave (4) bounce is in progress as a flat Elliott wave structure where Minor wave A ended at 1.2576 and Minor wave B ended at 1.2416. Minor wave C is subdivided as an impulse Elliott Wave structure. Up from 1.2416 low, Minute wave ((i)) ended at 1.253 and pullback to 1.2443 ended Minute wave ((ii)). Pair then rallied in Minute wave ((iii)) ending at 1.2593 and Minute wave ((iv)) pullback ended at 1.2355. Near term, Minute wave ((v)) of C is proposed complete at 1.2619, which also complete Intermediate wave (4). While bounces stay below 1.2619, and more importantly below 1.2683, expect pair to extend lower or at least pullback in 3 waves. We don’t like buying the pair.

USDCAD 1 Hour Elliott Wave Chart



Elliott Wave FLAT structure is a 3 waves corrective pattern and there are 3 different types of Flats:

– Regular flat.

– Expanded flat

– Running flat.

The flat seen in USDCAD above is the Regular flat type. A Regular flat is a 3 waves corrective pattern which could often be seen in the market nowadays. The internal subdivision of Flat is labeled as A,B,C with 3-3-5 structure. Waves A and B are subdivided in corrective structures such as zigzag, flat, double three or triple three. Third wave C is always 5 waves structure, either as a motive impulse or an ending diagonal pattern. It’s important to notice that in a Regular Flat, wave B completes slightly above the starting point of wave A. Wave B usually ends at 50%, 61.8%, 76.4%, or 85.4% of wave A and Wave C of regular flat usually ends close to 100% -1.236% Fibonacci extension of A related to B.



By Elliot Wave Forecast

Back to homepage

Leave a comment

Leave a comment