GBPCAD Short Term Elliott Wave Analysis 10.6.2015

Best reading of the cycle suggests that rally to 2.057 ended wave X. From this level, the pair resumed the decline in wave ((w)) as a double three structure wxy where wave w ended at 2.0168, wave x ended at 2.04, and wave y of ((w)) is in progress towards 1.97 – 1.979 area. Once wave ((w)) is complete, the pair is expected to bounce in wave ((x)) in 3, 7, or 11 swing to correct the decline from 2.04 before turning lower again. As far as 2.04 pivot stays intact during the bounce, expect the pair to resume the decline again to new low. We don’t like buying the proposed bounce in wave ((x)).

GBPCAD  1H20151006084128

At EWF we offer  24 hour coverage of 42 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 Free Trial to sample everything EWF has to offer! We are currently also running 30% promotion on Platinum Plan, valid for new members only.


Subscribe to our Forex Blog

First Name: *
Last Name: *
Your Email Address: *