USDCAD decline from 1.0960 stalled @ equal legs which we believe completed wave A of ( C ). Since then, pair has been trading sideways making marginal new highs and lows. We believe pair is doing an irregular wave B when 3 wave move up from 1.0837 – 1.0870 was wave (( a )) of B. Wave (( b )) was an Elliott Wave FLAT and completed with a marginal new low to 1.0831. We are expecting 3 waves higher in (( c )) to complete wave B. We have already seen wave ( a) of (( c)) up to 1.0875 and dip to 1.0844 completed wave ( b ). 50 fib of wave A comes @ 1.0898 and also coincides with 1.236 x ( a ) ext in (( c )) and is the ideal level to complete wave B before pair turns lower and resume the decline. Wave ( b ) of (( c )) can become a triangle as well but will not change the outcome.
Trading is NOT an easy job. You need someone to keep you on right side. Start your 14 day Trial
We cover 26 instruments in 4 time frames with 1 hour charts updated 4 times a day so clients are always in loop for the next move.
Back