$USDCAD Elliottwaves forecasting the rally & buying the dips

The video below is a short capture from the NY Live Analysis Session held on November 8th by EWF Founder & Chief Currency Strategist Eric Morera. Eric presented Elliott Wave count of $USDCAD suggesting potential double in wave ((x)) pull back toward 1.2363-1.3226 before further rally takes place.  Back then, $USDCAD was showing incomplete swings sequences in the daily cycle from the May 3th low, suggesting at least another swing higher toward 1.3502-1.3675 (taking profit area). Our members knew that we were favoring more Dollar strength into the Election Event, and $USDCAD was one of the clearest structures to trade.

 

The same day after Election result announcment, the price reached inflection area at 1.2363-1.3226 and found buyers as expected. $USDCAD made sharp rally toward new highs,and eventualy reached proposed target at 1.3502.

If you’re interested in the future path of $USDCAD or in any of the other 50+ instruments we cover, you can find Elliott Wave analysis in the membership area. ( If not a member yet,  all you have to do is to Sign Up for 14 Days Free Trial )

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