$USD/CAD Short Term Elliott Wave Update 7.8.2015

Rally from wave (X) low at 1.212 is unfolding in triple corrective structure WXYZ where wave W ended at 1.2423, wave X ended at 1.23, wave Y ended at 1.263, and second wave X ended at 1.253. Wave Z is in progress towards 1.283 – 1.29 to complete wave ((B)). The internal of wave Z is taking the form of a double corrective structure ((w))-((x))-((y)) where wave ((w)) ended at 1.28, wave ((x)) ended at 1.2675, and wave ((y)) is currently in progress towards 1.283 – 1.29 to complete wave ((B)). Expect profit taking and the pair to correct the rally from 1.212 once wave ((B)) is complete. Cycle is quite mature already at this stage and it’s risky to chase the last strength. As far as 1.253 pivot stays intact, the pair can still do one more swing higher towards the target above.

USDCAD 6020150707212357

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. Click for Free 14 day Trial


Subscribe to our Forex Blog

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