USDCAD Elliott Wave View: More downside

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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. The rally to 1.3212 ended cycle from … [Read more...]

USDCAD Short Term Elliott Wave: Turning Lower

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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 … [Read more...]

Gold: Waiting for the next leg higher

Gold and Silver

The video below explains the inverse correlation of Gold-to-Silver ratio with Gold and Silver. We also explain why it's useful to monitor this ratio to determine the next move higher in the precious metal group   Take our 14 days FREE trial by clicking here --> risk free trial and get access to professional-grade Elliott wave charts for 52 instrument in 4 time frames, live session, live trading room, 24 hour chat room, and much more. Learn Elliott Wave and trading further with … [Read more...]

USDCAD: Expect turn lower soon

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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 unfolding as a flat where Minute wave ((a)) ended at 1.3102, and Minute wave ((b)) ended at 1.2976. Minute wave ((c)) is in progress as a diagonal where Minutte wave (i) ended at 1.3076, Minutte wave (ii) ended at 1.2988, Minutte wave (iii) ended at 1.3212, and Minutte wave (iv) … [Read more...]

USDCAD: Bearish sequence favors more downside

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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 unfolding as a triple three where Minute wave ((w)) ended at 1.3102, Minute wave ((x)) ended at 1.2976,  Minute wave ((y)) ended at 1.3135, Minute 2nd wave ((x)) ended at 1.307, and Minute wave ((z)) of X is expected to complete at 1.3208 - 1.324 area. Ideally wave X bounce does not … [Read more...]

Crude Oil: Extension higher expected

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Revised view suggests that Crude Oil rally from 1/10 low (50.71) is unfolding as a diagonal where Minor wave 1 ended at 54.08 and Minor wave 2 is proposed complete at 52.22. Crude Oil has broken above 54.08, and thus showing a 5 swing sequence from 1/10 low and favoring more upside. Near term, while pullbacks stay above Minuette wave (x) at 53.35, but more importantly above Minor wave 2 at 52.22, expect Oil to resume higher towards 55.41 - 55.91 area next. If Crude oil breaks below 53.35, that … [Read more...]