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NDelic
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USD/CAD Elliott Wave Since our last analysis, the USDCAD pair has continued trading lower, corrective wave .b (coloured black) of the bigger wave b has finished developing. Yesterday, during the Asian and European sessions, we could observe a descending movement from 1.0308 towards the 1.0270 level, and we can consider this move as the end of the .b (coloured black). Therefore, during the early New York session, this commodity pair did not manage to hold this level and the price retraced back to the 1.0291 level. At the moment, the USDCAD pair is trading around 1.0315, and we are expecting to see one more push higher for the end of the .c of b wave, that is currently in progress. In accordance with our wave rules and taking into account that wave B should retrace 50% of wave A, we can define the potential targets with measuring wave A with take profit at 1.0345 (50% of wave A). To reduce the risk, we can use invalidation point at the 1.0285 level as stop loss. Support and Resistance (S3) 1.0230 (S2) 1.0250 (S1) 1.0269 (PP) 1.0289 (R1) 1.0308 (R2) 1.0328 (R3) 1.0347 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movements. That is why long positions at the level of 1.0305 with stop loss at 1.0285 and take profit at 1.0345 are recommended.
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USD/CAD Elliott Wave Since our last analyses, the USDCAD pair has been trading downwards, that is why we need to adjust our primary count a little bit. During the Wednesday's Asian and European sessions, we could observe a strong descending movement from 1.0383 towards the 1.0350 level. Therefore, during the New York session this commodity instrument extended decline and the price reached a new low at the 1.0324 level. At the moment, the USDCAD pair is trading around the 1.0320 level, and we are expecting to see push higher today at least to 50% of the cycle from the 1.0418 level. In accordance with our wave rules and taking into account that wave C should retrace 123.6% of wave A, we can define the potential targets with measuring wave A with take profit at 1.0470 (123.6% of wave A). To reduce the risk, we can use invalidation point at the 1.0290 level as stop loss. Support and Resistance (S3) 1.0247, (S2) 1.0286, (S1) 1.0306, (PP) 1.0345, (R1) 1.0365, (R2) 1.0404, (R3) 1.0424. Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movements. That is why long positions at the level of 1.0350 with stop loss at 1.0290 and take profit at 1.0470 are recommended.
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AUD/USD Elliott Wave For the last few days the AUDUSD pair has been trading upwards, final .C wave (coloured black) of the bigger Y wave (coloured blue) has been developing. During Tuesday's Asian and European sessions we could observe ascending movements from 0.9505 towards the 0.9546 level, and we can consider this move as the end of the A wave (coloured red). Therefore, during the early New York session this commodity pair did not manage to hold the highs and the price retraced back to the 0.9497 level .At the moment, the AUDUSD pair is trading around the 0.9520 level, and we are expecting to see the price lowering in the next couple of weeks. In accordance with our wave rules and taking into account that wave B should retrace 50% of wave A, we can define the potential targets with measuring wave A with take profit at 0.9195 (50% of wave A). To reduce the risk, we can use invalidation point at the 0.9545 level as stop loss. Alternate count: we just ended the first leg of the alt (Y) (coloured green), and yesterday's move lower was just a corrective wave b of (Y). The break to the new highs will make us to wait a little bit longer, before we start looking for short positions in the b wave. Support and Resistance (S3) 0.9416 (S2) 0.9446 (S1) 0.9486 (PP) 0.9516 (R1) 0.9556 (R2) 0.9586 (R3) 0.9626 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movements. That is why short positions at the level of 0.9480 with stop loss at 0.9545 and take profit at 0.9195 are recommended.
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AUD/USD Elliott Wave Last week, the AUDUSD pair was trading upwards, just like we expected, corrective wave y (coloured blue) of the bigger wave (y) (coloured green) was developing. During Friday's Asian and European sessions we could observe an ascending movement from 0.9444 towards the 0.9484 level, and we can consider this move as the end of the first swing of the y wave (coloured blue). Therefore, during the early New York session this major pair did not manage to hold this levels and the price retraced back to the 0.9447 level. At the moment, the AUDUSD pair is trading around 0.9460 and we are expecting to see one more push higher, before the price turns lower when developing of the (y) wave ends. In accordance with our wave rules and taking into account that wave Y should retrace 100% of wave W, we can define the potential targets with measuring wave W with take profit at 0.9520 (100% of wave W). To reduce the risk, we can use invalidation point at the 0.9430 level as stop loss. Support and Resistance (S3) 0.9387 (S2) 0.9410 (S1) 0.9437 (PP) 0.9460 (R1) 0.9487 (R2) 0.9510 (R3) 0.9537 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movements. That is why long positions at the level of 0.9470 with stop loss at 0.9430 and take profit at 0.9520 are recommended.
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USD/CAD Elliott Wave Since our last analyses, the USDCAD pair has been trading upwards, just like we expected, corrective wave C (coloured blue) of the bigger wave (y) (coloured green) has been developing. Yesterday, during the Asian and half of the European session we could observe a descending movement from 1.0333 towards the 1.0306 level, and we can consider this move as the end of the second leg of the C wave (coloured blue). Therefore, during the early New York session, this commodity pair pushed aggressively higher to the 1.0372 level. At the moment, the USDCAD pair is trading around 1.0374, and we are expecting to see more downward movements in the next few sessions. In accordance with our wave rules and taking into account that wave C should retrace 100% of wave A, we can define the potential targets with measuring wave A with take profit at 1.0000 (100% of wave A). To reduce the risk, we can use invalidation point at the 1.0473 level as stop loss. Support and Resistance (S3) 1.0259 (S2) 1.0282 (S1) 1.0326 (PP) 1.0349 (R1) 1.0393 (R2) 1.0416 (R3) 1.0460 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downward movements. That is why short positions at the level of 1.0335 with stop loss at 1.0473 and take profit at 1.0000 are recommended.
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AUD/USD Elliott Wave Since our last analyses the AUDUSD pair has been trading sideways, corrective wave C (coloured blue) of the bigger wave (y) (coloured green) has been developing. During the Monday's Asian session we could observe descending movement from 0.9448 towards the 0.9387 level. Therefore, during the New York session this major currency did not manage to hold this levels and the price retraced back to the 0.9447 level. At the moment, the AUDUSD pair is trading around 0.9440 and we are expecting to see more bullish movement today. In accordance with our wave rules and taking into account that wave Y should retrace 123.6% of wave X, we can define the potential targets with measuring wave X with take profit at 0.9542 (123.6% of wave A). To reduce the risk, we can use resistance point at the 0.9370 level as stop loss. Support and Resistance (S3) 0.9333 (S2) 0.9360 (S1) 0.9394 (PP) 0.9421 (R1) 0.9455 (R2) 0.9482 (R3) 0.9516 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movements. That is why long positions at the level of 0.9450 with stop loss at 0.9370 and take profit at 0.9542 are recommended.
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AUD/USD Elliott Wave Since our last analyses the AUDUSD pair has been trading downwards, corrective wave (x) of the bigger wave [5] (coloured black) has been developing. During Wednesday's Asian and European sessions, we could observe descending movement from 0.9408 towards the 0.9332 level and we can consider this move as the end of the wave C (coloured blue) of the (x) wave (coloured green). Therefore, during the New York session this major pair did not manage to hold this level and the price retraced back to the 0.9392 level. At the moment, the AUDUSD pair is trading around 0.9395 and we are expecting to see more bullish movements in the [5] wave. In accordance with our wave rules and taking into account that wave C should retrace 123.6% of wave A, we can define the potential targets with measuring wave A with take profit at 0.9542 (123.6% of wave A). To reduce the risk, we can use resistance point at the 0.9332 level as stop loss. Support and Resistance (S3) 0.9264 (S2) 0.9299 (S1) 0.9341 (PP) 0.9376 (R1) 0.9418 (R2) 0.9453 (R3) 0.9495 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upward movements. That is why long positions at the level of 0.9400 with stop loss at 0.9332 and take profit at 0.9542 are recommended.
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USD/CAD Elliott Wave Since our last analyses, the USDCAD pair has continued trading downwards, so we need to extend the wave b (coloured blue) of the bigger wave (y) a little bit. Yesterday, during the Asian and European sessions we could observe descending movements from 1.0317 towards the 1.0274 level and we can consider this move as the end of the wave b (coloured blue).Therefore, during the New York session this commodity pair did not manage to hold this levels and the price has pushed higher to 1.0327 (new daily high). At the moment, the USDCAD pair is trading around 1.0302 and we are expecting to see one more push higher before the price turns around when developing of the wave (coloured black) ends. In accordance with our wave rules and taking into account that wave C should retrace 100% of wave A, we can define the potential targets with measuring wave A with take profit at 1.0355 (100% of wave A). To reduce the risk, we can use invalidation point at the 1.0273 level as stop loss. Support and Resistance (S3) 1.0235 (S2) 1.0254 (S1) 1.0279 (PP) 1.0298 (R1) 1.0323 (R2) 1.0342 (R3) 1.0367 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin upward movements. That is why long positions at the level of 1.0315 with stop loss at 1.0275 and take profit at 1.0355 are recommended.
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AUD/USD Elliott Wave Last week, the AUDUSD pair was trading downwards, corrective wave [iv] (coloured black) of the bigger wave A (coloured red) was developing. During Friday's Asian session, we could observe an ascending movement from 0.9331 towards the 0.9368 level. Therefore, during the European and New York sessions, this major pair did not manage to hold this levels and the price dropped to a new weekly low at the 0.9296 level. At the moment, the AUDUSD pair is at the beginning of the final [v] wave (coloured black) and we are expecting to see more bullish movement for next few days. In accordance with our wave rules and taking into account that wave 5 should retrace 123.6% of wave 4, we can define the potential targets with measuring wave 4 with take profit at 0.9585 (123.6% of wave 4). To reduce the risk, we can use invalidation point at the 0.9200 level as stop loss. Support and Resistance (S3) 0.9206 (S2) 0.9251 (S1) 0.9283 (PP) 0.9328 (R1) 0.9360 (R2) 0.9405 (R3) 0.9437 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movements. That is why long positions at the level of 0.9350 with stop loss at 0.9200 and take profit at 0.9585 are recommended.
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USD/CAD Elliott Wave Since our last analyses, the USDCAD pair has continued trading upwards, corrective wave a (coloured blue) of the bigger wave (y) (coloured green) has been developing. Yesterday, during the Asian and European sessions we could observe descending movements from 1.0322 towards the 1.0302 level. Therefore, during the New York session this commodity pair did not manage to hold this level and the price reached a new high at the 1.0339 level. We can consider this move as the end of the a wave (coloured blue). At the moment, the USDCAD pair is trading around the 1.0323 level and we are expecting to see more bullish movements today, before the price turns lower when [c] wave (coloured black) starts. In accordance with our wave rules and taking into account that wave C should retrace 100% of wave A, we can define the potential targets with measuring wave A with take profit at 1.0376 (100% of wave A). To reduce the risk, we can use invalidation point at 1.0285 level as stop loss. Support and Resistance (S3) 1.0257 (S2) 1.0280 (S1) 1.0294 (PP) 1.0317 (R1) 1.0331 (R2) 1.0354 (R3) 1.0368 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin upward movements. That is why long positions at the level of 1.0335 with stop loss at 1.0285 and take profit at 1.0376 are recommended.
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USD/CAD Elliott Wave For the last few days the USDCAD pair has been trading upwards, just like we expected, corrective wave © (coloured green) of the bigger wave (coloured black) has been developing. Yesterday, during the European session we could observe the descending movement from 1.0318 towards the 1.0285 level. Therefore, during the early New York session this commodity pair did not manage to hold this levels and the price retraced back to the 1.0318 level. At the moment, the USDCAD pair is trading around 1.0315 and we are expecting to see a new highs in the next few sessions. In accordance with our wave rules and taking into account that wave C should retrace 100% of wave A, we can define the potential targets with measuring wave A with take profit at 1.0394 (100% of wave A). To reduce the risk, we can use invalidation point at the 1.0285 level as stop loss. Support and Resistance (S3) 1.0260 (S2) 1.0272 (S1) 1.0293 (PP) 1.0305 (R1) 1.0326 (R2) 1.0338 (R3) 1.0359 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin upwards movements. That is why long positions at the level of 1.0325 with stop loss at 1.0285 and take profit at 1.0394 are recommended.
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AUD/USD Elliott Wave Since our last analysis the AUDUSD pair has been trading upwards, just like we expected, corrective wave ( (coloured green) of the bigger wave [4] (coloured black) has been developing. During the Monday's Asian and European sessions we could observe ascending movement from 0.9363 towards the 0.9436 level. Therefore, during the New York session this major pair has continued trading in a bullish mood and the price has reached a new session's high at 0.9455 level. At the moment the AUDUSD pair is trading around 0.9416 and we are expecting to see one more push bearish movement for the end of [4] wave. In accordance with our wave rules and taking into account that wave C should retrace 100% of wave A, we can define the potential targets with measuring wave A with take profit at 0.9293 (100% of wave A). To reduce the risk, we can use invalidation point at 0.9495 level as stop loss. Support and Resistance (S3) 0.9286 (S2) 0.9326 (S1) 0.9377 (PP) 0.9417 (R1) 0.9468 (R2) 0.9508 (R3) 0.9559 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movements. That is why short position at level 0.9400 with stop loss at 0.9495 and take profit at 0.9293 are recommended.
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USD/CAD Elliott Wave Since our last analyses the USDCAD pair has been trading upwards, just like we expected, corrective wave .A (coloured black) of the bigger wave A (coloured green) has been developing. Yesterday, during the Asian session we could observe descending movements from 1.0225 towards the 1.0181 level and we can consider this move as the end of the wave 1 (coloured blue).Therefore, during the European and New York session this commodity currency did not manage to stay at the lows and price has reached a new high at 1.0287 level. At the moment the USDCAD pair is trading around 1.0275 and we are expecting to see one more push higher today when developing of the .B wave (coloured black) ends. In accordance with our wave rules and taking into account that wave C should retrace 100% of wave A, we can define the potential targets with measuring wave A with take profit at 1.0338 (100% of wave A). To reduce the risk, we can use invalidation point at 1.0180 level as stop loss. Support and Resistance (S3) 1.0123 (S2) 1.0152 (S1) 1.0208 (PP) 1.0237 (R1) 1.0293 (R2) 1.0322 (R3) 1.0378 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movements. That is why long position at level 1.0235 with stop loss at 1.0180 and take profit at 1.0338 are recommended.
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USD/CAD Elliott Wave Since our last analyses, the USDCAD pair has continued trading downwards, impulsive wave 5 (coloured green) of the bigger wave (1) (coloured blue) has been developing. Yesterday, during the European session we could observe ascending movements form 1.0288 towards the 1.0318 level and we can consider this move as the end of the .2 wave (coloured black) of the bigger 5 wave (coloured green). Therefore, during the New York session this commodity currency pair did not manage to stay at the highs and the price dropped to the new low at 1.0200. At the moment, the USDCAD is trading around 1.0210 and we are expecting to see one small push lower before the price turns around when developing of the (2) wave (coloured blue) starts. In accordance with our wave rules and taking into account that wave 2 should retrace 50% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.0370 (50% of wave 1). To reduce the risk, we can use invalidation point at the 1.0100 level as stop loss. Support and Resistance (S3) 1.0059 (S2) 1.0129 (S1) 1.0176 (PP) 1.0246 (R1) 1.0293 (R2) 1.0363 (R3) 1.0410 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin upward movements. That is why long positions at the level of 1.0250 with stop loss at 1.0100 and take profit at 1.0370 are recommended.
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USD/CAD Elliott Wave Since our last analyses, the USDCAD pair has been trading upwards, corrective wave A (coloured green) of the bigger wave (2) (coloured blue) has been developing. Yesterday, during the early Asian session we could observe strong descending movement from 1.0353 towards the 1.0282 level and we can consider this move as the end of the impulsive wave (1) (coloured blue). Therefore, during the European and New York sessions, when developing of the first leg of the (2) wave started, this commodity currency pair did not manage to hold around the lows and the price retraced back to the 1.0333 level. At the moment, the USDCAD pair is trading around 1.0328 and we are expecting to see more bullish movements in the next few sessions. In accordance with our wave rules and taking into account that wave 2 should retrace 50% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.0420 (50% of wave 1). To reduce the risk, we can use invalidation point at the 1.0270 level as stop loss. Support and Resistance (S3) 1.0250 (S2) 1.0266 (S1) 1.0294 (PP) 1.0310 (R1) 1.0338 (R2) 1.0354 (R3) 1.0382 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin upward movements. That is why long positions at the level of 1.0350 with stop loss at 1.0270 and take profit at 1.0420 are recommended.
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AUD/USD Elliott Wave Last week, the AUDUSD pair was trading upwards, corrective wave © (coloured blue) of the bigger wave 4 (coloured red) was developing. During Friday's Asian and European sessions we could observe ascending movement from 0.9223 towards the 0.9266 level. Therefore, during the New York session this major pair did not manage to hold this levels and the price retraced back to the 0.9223 level. We can consider this move as the end of the Triangle 4 wave (coloure green). At the moment, the AUDUSD pair is trading around 0.9340 and we are expecting to see strong bearish movement within next sessions. In accordance with our wave rules and taking into account that wave 5 should retrace 123.6% of wave 4, we can define potential targets with measuring wave 4 with take profit at 0.8754 (123.6% of wave 4). To reduce the risk, we can use invalidation point at the 0.9500 level as stop loss. Support and Resistance (S3) 0.9170 (S2) 0.9197 (S1) 0.9220 (PP) 0.9247 (R1) 0.9270 (R2) 0.9297 (R3) 0.9320 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin downward movements. That is why short positions at the level of 0.9250 with stop loss at 0.9500 and take profit at 0.8754 are recommended.
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AUD/USD Elliott Wave Since our last analyses the AUDUSD pair has been trading sideways, corrective wave Y (coloured black) of the bigger wave .4 (coloured green) has been developing. Yesterday, during the European sessions we could observe an ascending movement from 0.9222 towards the 0.9280 level. Therefore, during the New York session this major pair did not manage to hold this level and the price dropped to the 0.9235 level. At the moment, the AUDUSD pair is trading around 0.9240 and we are expecting to see the price move lower in the next few sessions.In accordance with our wave rules and taking into account that wave 5 should retrace 123.6% of wave 4, we can define the potential targets with measuring wave 4 with take profit at 0.9382 (123.6% of wave 4). To reduce the risk, we can use invalidation point at the 0.9150 level as stop loss. Support and Resistance (S3) 0.9086 (S2) 0.9156 (S1) 0.9213 (PP) 0.9283 (R1) 0.9340 (R2) 0.9410 (R3) 0.9467 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin upward movements. That is why long positions at the level of 0.9250 with stop loss at 0.9150 and take profit at 0.9382 are recommended.
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USD/CAD Elliott Wave Since our last analyses the USDCAD pair has continued trading downwards, impulsive wave (5) (coloured green) of the bigger wave 1 (coloured blue) has been developing. Yesterday, during the Asian and European sessions we could observe descending movements from 1.0380 towards the 1.0329 level. We can consider this move as the end of the 1 wave (coloured blue).Therefore, during the New York session this commodity currency did not manage to hold this levels and the price retraced back to the 1.0363 level. At the moment, the USDCAD pair is trading around 1.0356 and we are expecting to see more bullish movements until the wave 2 ends. In accordance with our wave rules and taking into account that wave 2 should retrace 61.8% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.0474 (61.8% of wave 1). To reduce the risk, we can use invalidation point at the 1.0365 level as stop loss. Support and Resistance (S3) 1.0276, (S2) 1.0303, (S1) 1.0325, (PP) 1.0352, (R1) 1.0374, (R2) 1.0401, (R3) 1.0423. Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin an upward movement. That is why long positions at the level of 1.0380 with stop loss at 1.0365 and take profit at 1.0474 are recommended.
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USD/CAD Elliott Wave Since our last analyses the USDCAD pair has continued trading downwards, impulsive wave (5) (coloured green) of the bigger wave 1 (coloured blue) has been developing. Yesterday, during the Asian and European sessions we could observe descending movements from 1.0380 towards the 1.0329 level. We can consider this move as the end of the 1 wave (coloured blue).Therefore, during the New York session this commodity currency did not manage to hold this levels and the price retraced back to the 1.0363 level. At the moment, the USDCAD pair is trading around 1.0356 and we are expecting to see more bullish movements until the wave 2 ends. In accordance with our wave rules and taking into account that wave 2 should retrace 61.8% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.0474 (61.8% of wave 1). To reduce the risk, we can use invalidation point at the 1.0365 level as stop loss. Support and Resistance (S3) 1.0276, (S2) 1.0303, (S1) 1.0325, (PP) 1.0352, (R1) 1.0374, (R2) 1.0401, (R3) 1.0423. Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin an upward movement. That is why long positions at the level of 1.0380 with stop loss at 1.0365 and take profit at 1.0474 are recommended.
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USD/CAD Elliott Wave For the last few days, the USDCAD pair has been trading downwards in an impulsive structure, we are counting the move from 1.0550 as impulsive wave 1 (coloured blue).During the Friday's Asian and European sessions we could observe descending movement from 1.0515 towards the 1.0487 level. Therefore, during the New York session this commodity currency continued trading lower and the price reached a new session low at 1.0380.We can consider this move as the end of the wave .3 (coloured green). At the moment, we are in the final wave .5 (coloured green) and we are expecting to see one more push lower before the price turns around. In accordance with our wave rules and taking into account that wave 5 should retrace 61.8% of wave 3, we can define potential targets with measuring wave 3 with take profit at 1.0342 (61.8% of wave 1). To reduce the risk, we can use an invalidation point at the 1.0430 level as stop loss. Support and Resistance (S3) 1.0236, (S2) 1.0308, (S1) 1.0359, (PP) 1.0431, (R1) 1.0482, (R2) 1.0554, (R3) 1.0605. Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin a downward movement. That is why short positions at the level of 1.0385 with stop loss at 1.0430 and take profit at 1.0342 are recommended.
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USD/CAD Elliott Wave Since our last analysis the USDCAD pair has continued trading downwards, impulsive wave 3 (coloured black) of the bigger wave .1 (coloured green) has finished developing. During the Wednesday's Asian and European sessions we could observe descending movement from 1.0541 towards the 1.0509 level. Therefore, during the New York session this currency pair continued trading in the bearish mood and the price reached a new low at the 1.0474 level. We can consider this move as the end of the 3 wave (coloured black). At the moment, the USDCAD pair is trading around 1.0490 and we are expecting to see one more swing lower before we see the end of the .1 wave. In accordance with our wave rules and taking into account that wave 6 should retrace 61.8% of wave 3, so we can define the potential targets with measuring wave 3 with take profit at 1.0459 (61.8% of wave 3). To reduce the risk, we can use invalidation point at the 1.0530 level as stop loss. Support and Resistance (S3) 1.0399 (S2) 1.0436 (S1) 1.0466 (PP) 1.0503 (R1) 1.0533 (R2) 1.0570 (R3) 1.0600 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin downward movement. That is why short position at the level of 1.0500 with stop loss at 1.0530 and take profit at 1.0459 are recommended.
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AUD/USD Elliott Wave Since our last analysis the AUDUSD pair has been trading downwards, corrective wave B (coloured black) of the bigger wave .A (coloured green) has been developing. Yesterday, during the Asian and European sessions we could observe strong descending movement from 0.8977 towards the 0.8920 level. Therefore, during the New York session this major currency continued trading in bearish mood and the price reached a new daily low at the 0.8900 level. We can consider this move as the end of the B wave (coloured black). At the moment, the AUDUSD pair is trading around 0.8935 and we are expecting to see the price move higher in the next few sessions. In accordance with our wave rules and taking into account that wave C should retrace 100% of wave A, we can define the potential targets with measuring wave A with take profit at 0.9020 (100% of wave A). To reduce the risk, we can use invalidation point at 0.8900 level as stop loss. Support and Resistance (S3) 0.8840, (S2) 0.8878, (S1) 0.8903, (PP) 0.8941, (R1) 0.8966, (R2) 0.9004, (R3) 0.9029. Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin upward movement. That is why long potions at the level of 0.8950 with stop loss at 0.8900 and take profit at 0.9020 are recommended.
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AUD/USD Elliott Wave Since our last analysis the AUDUSD pair has continued trading downwards, corrective wave .y (coloured green) of the D cycle (coloured blue) has finished developing. During the Wednesday's Asian and European sessions we could observe descending movement from 0.8968 towards the 0.8891 level, and we can consider this move as the end of the D wave (coloured blue). Therefore, during the New York session this major pair did not manage to hold this level and the price retraced back to the 0.8954 level. At the moment, the AUDUSD pair is trading around 0.8950 and we are expecting to see continuation of the bullish movements for the next few sessions. In accordance with our wave rules and taking into account that wave E should retrace 61.8% of wave C, we can define the potential targets with measuring wave C with take profit at 0.9142 (61.8% of wave C). To reduce the risk, we can use invalidation point at 0.8890 level as stop loss. Support and Resistance (S3) 0.8799 (S2) 0.8845 (S1) 0.8893 (PP) 0.8939 (R1) 0.8987 (R2) 0.9033 (R3) 0.9081 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 0.8970 with stop loss at 0.8890 and take profit at 0.9142 are recommended.
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USD/CAD Elliott Wave Last week, the USDCAD pair was trading upwards, impulsive wave .3 (coloured green) of the bigger wave C (coloured blue) was developing. During the Friday's Asian and early European sessions we could observe ascending movement from 1.0532 towards the 1.0567 level, and we can consider this move as the end of the .3 wave. Therefore, during the New York session this commodity currency started to push lower and the price reached a new daily low at 1.0491 level. At the moment, the USDCAD pair is trading around 1.0506 and we are expecting to see continuation of the bigger bullish movement today. In accordance with our wave rules and taking into account that wave 5 should retrace 123.6% of wave 4, so we can define the potential targets with measuring wave 4 with take profit at 1.0584 (123.6% of wave 4). To reduce the risk, we can use support point at 1.0433 level as stop loss. Support and Resistance (S3) 1.0400 (S2) 1.0447 (S1) 1.0472 (PP) 1.0519 (R1) 1.0544 (R2) 1.0591 (R3) 1.0616 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin upward movement. That is why long position at the level of 1.0470 with stop loss at 1.0433 and take profit at 1.0584 are recommended.
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AUDUSD Elliott Wave Since our last analyses the AUDUSD pair has continued trading downwards, so we adjust our wave count a little bit. During the Wednesday's European session we could observe ascending movement from 0.8998 towards the 0.9056 level. Therefore, during the early New York session this commodity currency did not manage to hold this levels and price has dropped to 0.8965 level. At the moment, the AUDUSD pair is trading around 0.8980 and we are expecting to see another three waves higher when developing of the Y wave starts.In accordance with our wave rules and taking into account that wave W should retrace 100% of wave Y, we can define the potential targets with measuring wave W with take profit at 0.9295 (100% of wave Y). To reduce the risk, we can use support point at the 0.8940 level as stop loss. Support and Resistance (S3) 0.8826 (S2) 0.8895 (S1) 0.8934 (PP) 0.9003 (R1) 0.9042 (R2) 0.9111 (R3) 0.9150 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 0.9030 with stop loss at 0.8940 and take profit at 0.9295 are recommended.