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NDelic
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USD/CAD Elliott Wave For the last few days the USD/CAD pair has been trading upwards, impulsive wave 3 (coloured blue) of the bigger wave [1] (coloured red) has been developing. During the Wednesday's Asian and European sessions we could observe descending movement from 1.0239 towards the 1.0175 level and we can consider this move as the end of the corrective sub-wave 2 of the wave 3 (coloured blue). Therefore, during the late New York session this major currency did not manage to hold this levels and the price has retraced all the way to 1.0284 level. At the moment the USD/CAD pair is trading around 1.0310 area and we expect to see the continuation of the bullish mood for the couple of days. In accordance with our wave rules and taking into account that wave 3 should retrace 461.8% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.0363 (461.8% of wave 1). To reduce the risk, we can use support point at 1.0240 level as stop loss. Support and Resistance (S3) 1.0087 (S2) 1.0130 (S1) 1.0200 (PP) 1.0243 (R1) 1.0313 (R2) 1.0356 (R3) 1.0426 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0330 with stop loss at 1.0240 and take profit at 1.0363 are recommended.
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AUD/USD Elliott Wave For the last few days the AUD/USD pair has been trading downwards, impulsive wave 3 (coloured blue) of the bigger wave (3) (coloured red) has been developing. Yesterday, during the Asian and European sessions we could observe strong descending movement from 0.9571 towards the 0.9441 level. Therefore, during the late New York session this major currency did not manage to hold this level and the price has retraced back to 0.9515 level (NY sessions high). At the moment the AUD/USD pair is at the end of the corrective wave 4 (coloured blue) and we expect to see one more push lower when developing of the wave 5 (coloured blue) starts. In accordance with our wave rules and taking into account that wave 5 should retrace 61.8% of wave 3, we can define the potential targets with measuring wave 3 with take profit at 0.9409 (61.8% of wave 3). To reduce the risk, we can use invalidation point at 0.9565 level as stop loss. Support and Resistance (S3) 0.9290 (S2) 0.9364 (S1) 0.9424 (PP) 0.9498 (R1) 0.9558 (R2) 0.9632 (R3) 0.9692 Trading forecast Proceeding from Elliott Wave today, the trend is expected to begin the downwards movement. That is why short positions at level 0.9500 with stop loss at 0.9565 and take profit at 0.9409 are recommended.
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USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading upwards, just like we expected, impulsive sub-wave 3 (coloured blue) of the bigger wave [1] (coloured red) has been developing. During the Monday's Asian session we could observe descending movement from 1.0172 towards the 1.0148 level and we can consider this move as the end of the corrective wave 2 (coloured blue). Therefore, during the European and New York sessions this major currency did not manage to hold this levels and the price has pushed higher reaching a new two-day high at 1.0204 level. At the moment the USD/CAD pair is trading around 1.0200 area and we expect to see the price slightly higher in the next few session. In accordance with our wave rules and taking into account that wave 3 should retrace 161.8% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.0222 (161.8% of wave 1). To reduce the risk, we can use support point at 1.0180 level as stop loss. Support and Resistance (S3) 1.0098 (S2) 1.0124 (S1) 1.0154 (PP) 1.0180 (R1) 1.0210 (R2) 1.0236 (R3) 1.0266 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0204 with stop loss at 1.0180 and take profit at 1.0222 are recommended.
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<div></div> <div>AUD/USD Elliott Wave </div> <div>Since our last analyses the AUD/USD pair has been trading upwards, so we have changed our primary wave count a little bit. Yesterday, during the Asian and European sessions, we could observe a strong descending movement from 0.9466 towards the 0.9325 level and we can consider this move as the end of the impulsive wave (coloured red) of the bigger wave 3 (coloured green). Therefore, during the early New York session this major currency did not manage to hold this level and price has retraced back to 0.9553 level. At the moment, the AUD/USD pair is developing the final sub-wave C (coloured blue) of the wave [ii] (coloured red) and we are expecting to see the price lower in the next few sessions. In accordance with our wave rules and taking into account that wave 3 should retrace 161.8% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 0.9050 (161.8% of wave 3). To reduce the risk, we can use resistance point at 0.9672 level as stop loss. </div> <div>Support and Resistance </div> <div>(S3) 0.9203 (S2) 0.9264 (S1) 0.9348 (PP) 0.9409 (R1) 0.9493 (R2) 0.9554 (R3) 0.9638. </div> <div>Trading forecast </div> <div>Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 0.9530 with stop loss at 0.0672 and take profit at 0.9050 are recommended. </div> <div> </div>
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AUD/USD Elliott Wave Since our last analyses the AUD/USD pair has been trading downwards, impulsive wave [1] (coloured red) of the bigger wave 3 (coloured green) has finished developing. During the Friday's Asian and European sessions we could observe descending movement from 0.9571 towards the 0.9462 level. Therefore, during the New York session this major currency pair has continued trading in a bearish mood and the price has reached a new low at 0.9428 level. At the moment the AUD/USD pair is developing corrective wave [2] (coloured red) and we are expecting to see the price higher in the next few days. 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 0.9565 (61.8% of wave 1). To reduce the risk, we can use support point at 0.9385 level as stop loss. Support and Resistance (S3) 0.9247 (S2) 0.9337 (S1) 0.9413 (PP) 0.9503 (R1) 0.9579 (R2) 0.9669 (R3) 0.9745 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 0.9435 with stop loss at 0.9385 and take profit at 0.9565 are recommended.
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USD/CAD Elliott Wave For the last few days the USD/CAD pair has been trading upwards, impulsive wave 1 (coloured green) of the bigger wave (5) (coloured blue) has finished developing. Yesterday, during the Asian and European sessions we could observe ascending movement from 1.0275 towards the 1.0332 level. Therefore, during the New York session this major currency has continued trading in a bullish mood and the price has reached a new daily high at 1.0360 level. At the moment the USD/CAD pair is finishing corrective wave 2 (coloured green) and we expect to see the price higher in the next few sessions. In accordance with our wave rules and taking into account that wave 3 should retrace 100% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.0432 (100% of wave 1). To reduce the risk, we can use invalidation point at 1.0260 level as stop loss. Support and Resistance (S3) 1.0267 (S2) 1.0296 (S1) 1.0320 (PP) 1.0349 (R1) 1.0373 (R2) 1.0402 (R3) 1.0426 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0335 with stop loss at 1.0260 and take profit at 1.0432 are recommended.
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USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading upwards, just like we expected, corrective wave B (coloured green) of the bigger wave (4) (coloured blue) has finished developing. During the Friday's European session we could observe descending movement from 1.3065 towards the 1.0302 level and we can consider this move as the end of the corrective sub-wave (coloured red) of the B wave (coloured green). Therefore, during the New York session this commodity currency did not manage to hold this levels and the price has retraced to the daily high at 1.3080 level. We can consider this move as the end of the final sub-wave [c] (coloured red) of the B wave. At the moment the USD/CAD pair is trading around 1.3060 area and we expect to see the price lower for 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 1.0249 (100% of wave A). To reduce the risk, we can use resistance point at 1.0400 level as stop loss. Support and Resistance (S3) 1.0261 (S2) 1.0294 (S1) 1.0314 (PP) 1.0347 (R1) 1.0380 (R2) 1.0400 (R3) 1.0433 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.0350 with stop loss at 1.0400 and take profit at 1.0249 are recommended.
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EUR/USD Elliott Wave Since our last analyses the EUR/USD pair has continued trading upwards, so we have changed our primary wave count a little bit. During the Thursday's Asian and European sessions we could observe ascending movement from 1.2941 towards the 1.3005 level. Therefore, during the New York session this major currency has continued trading in a bullish mood and the price has reached a new high at 1.3060 level. We can consider this movement as the end of the corrective wave Y (coloured blue) of the bigger wave (2) (coloured blue). At the moment the EUR/USD pair is trading around 1.2988 area and we expect to see the price lower in the next few sessions. In accordance with our wave rules and taking into account that wave 3 should retrace minimum 100% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.2610 (100% of wave 1). To reduce the risk, we can use resistance point at 1.3196 level as stop loss. Support and Resistance (S3) 1.2840 (S2) 1.2886 (S1) 1.2967 (PP) 1.3013 (R1) 1.3094 (R2) 1.3140 (R3) 1.3221 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.2970 with stop loss at 1.3196 and take profit at 1.2610 are recommended.
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USD/CAD Elliott Wave For the last few days the USD/CAD pair has been trading in a sideways move, triangle correction ( (coloured blue) has been developing. Yesterday, during the Asian and European sessions we could observe descending movement from 1.0366 towards the 1.0323 level and we can consider this move as the end of the final E wave of the bigger wave ( (coloured blue). Therefore, during the New York session this commodity currency did not manage to hold this levels and price has reached a new high at 1.0405 level. At the moment the USD/CAD pair is trading around 1.0389 and we expect to see the price lower when development of the wave 2 (coloured green) starts. 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 1.0356 (61.8% of wave 1). To reduce the risk, we can use resistance point at 1.0444 level as stop loss. Support and Resistance (S3) 1.0263 (S2) 1.0293 (S1) 1.0346 (PP) 1.0376 (R1) 1.0429 (R2) 1.0459 (R3) 1.0512 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.0420 with stop loss at 1.0444 and take profit at 1.0356 are recommended.
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USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading upwards, corrective wave B (coloured green) of the bigger wave ( (coloured blue) has finished developing. During the Monday's Asian and European sessions we could observe sideways movement between 1.0312 and 1.0331 level. Therefore, during the New York session this major currency did not manage to hold of this levels and the price has pushed higher reaching 1.0340 area. At the moment the USD/CAD pair is trading around 1.0350 and we expect to see the price lower when development of the wave C (coloured green) 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 1.0257 (100% of wave A). To reduce the risk, we can use invalidation point at 1.0360 level as stop loss. Support and Resistance (S3) 1.0278 (S2) 1.0292 (S1) 1.0315 (PP) 1.0329 (R1) 1.0352 (R2) 1.0366 (R3) 1.0389 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.0340 with stop loss at 1.0360 and take profit at 1.0257 are recommended.
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EUR/USD Elliott Wave For the last few days the EUR/USD pair has been trading upwards, corrective wave (4) (coloured green) of the bigger wave 1 (coloured red) has been developing. Yesterday, during the Asian and European sessions we could observe descending movement from 1.2900 towards the 1.2840 level and we can consider this move as the end of the sub-wave B (coloured blue) of the wave (4) (coloured green). Therefore, during the New York session this major currency did not manage to hold this levels and the price has reached a new high at 1.2933 level. At the moment the EUR/USD pair is trading around 1.2950 and we expect to see the price lower when development of the wave (4) ends. In accordance with our wave rules and taking into account that wave 5 should retrace minimum 61.8% of wave 3, we can define the potential targets with measuring wave 3 with take profit at 1.2716 (61.8% of wave 3). To reduce the risk, we can use invalidation point at 1.3034 level as stop loss. Support and Resistance (S3) 1.2759 (S2) 1.2800 (S1) 1.2852 (PP) 1.2893 (R1) 1.2945 (R2) 1.2986 (R3) 1.3038 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.2900 with stop loss at 1.3034 and take profit at 1.2716 are recommended.
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USD/CAD Elliott Wave Since our last analyses the USD/CAD pair has been trading downwards, so we need to changed our primary wave count a little bit. During Monday's Asian and European sessions we could observe side-ways movement between 1.0296 and 1.0270 area.Therefore, during the early New York session this major currency did not manage to hold this level and the price has dropped to the new daily low at 1.0215 level. We can consider this move as the end of the corrective wave 4 (coloured green). At the moment the USD/CAD pair is trading around 1.0275 level and we expect to see the price higher in the next few days. In accordance with our wave rules and taking into account that wave 5 should retrace 61.8% of wave 3, we can define the potential targets with measuring wave 3 with take profit at 1.0355 (61.8% of wave 3). To reduce the risk, we can use support point at 1.0210 level as stop loss. Support and Resistance (S3) 1.0126 (S2) 1.0171 (S1) 1.0205 (PP) 1.0250 (R1) 1.0284 (R2) 1.0329 (R3) 1.0363 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0290 with stop loss at 1.0210 and take profit at 1.0355 are recommended.
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GBP/USD Elliott Wave For the past few weeks the GBP/USD pair is trading downwards, in Elliott perspective this move represents impulsive wave (1) (coloured green) of the bigger wave 3 (coloured red). During the Friday's Asian and European sessions we could observe strong descending movement from 1.5280 towards the 1.5223 level. Therefore, during the New York session this major pair has continued trading in a bearish mood and the price reached a new low at 1.5157 level. We can consider this move as the end of the final wave 5 (coloured blue) of the bigger wave (1) (coloured green). At the moment the GBP/USD pair is trading around 1.5195 and we expect to see the price higher for the next few days. In accordance with our wave rules and taking into account that wave 2 should retrace minimum 50% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.5377 (50% of wave 1). To reduce the risk, we can use invalidation point at 1.5157 level as stop loss. Support and Resistance (S3) 1.4998 (S2) 1.5078 (S1) 1.5122 (PP) 1.5202 (R1) 1.5246 (R2) 1.5326 (R3) 1.5370 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why short positions at level 1.5200 with stop loss at 1.5157 and take profit at 1.5377 are recommended.
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AUD/USD Elliott Wave Since our last analysis the AUD/USD pair has continued to trade downwards, and our wave count is showing that we are currently at the end of the sub-wave 3 (coloured green) of the bigger wave © (coloured red). Yesterday, during the early Asian session we could observe small ascending movement from 0.9952 towards the 1.0003 level. Therefore, during the European and New York sessions this major currency did not manage to hold this levels and the price has dropped to a new low at 0.9875 level. At the moment the AUD/USD pair is trading around 0.9875 area and we expect to see the retrace in the corrective 4 wave (coloured green). In accordance with our wave rules and taking into account that wave 4 should retrace 23.6% of wave 3, we can define the potential targets with measuring wave 3 with take profit at 0.9977 (23.6% of wave 3). To reduce the risk, we can use invalidation point at 0.9851 level as stop loss. Support and Resistance (S3) 0.9713 (S2) 0.9795 (S1) 0.9840 (PP) 0.9922 (R1) 0.9967 (R2) 1.0049 (R3) 1.0094 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 0.9900 with stop loss at 0.9851 and take profit at 0.9977 are recommended.
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USD/CAD Elliott Wave Last week the USD/CAD pair has finished development of the impulsive wave (5) (coloured blue) and we could observe ascending movement for the start of the wave (A) (coloured blue). During the Friday's Asian and European sessions we could observe ascending movement from 1.0063 towards the 1.0099 level. Therefore, during the New York session this major currency has continued trading in a bullish mood and the price has reached a new daily high at 1.0151 level. We can consider this move as the end of the wave 1 (coloured green). At the moment the USD/CAD pair is trading around 1.0119 level and we expect to see the continuation of bearish mood for the next few weeks. 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 1.0066 (61.8% of wave 1). To reduce the risk, we can use resistance point at 1.0151 level as stop loss. Support and Resistance (S3) 1.0013 (S2) 1.0048 (S1) 1.0070 (PP) 1.0105 (R1) 1.0140 (R2) 1.0162 (R3) 1.0197 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.0110 with stop loss at 1.0151 and take profit at 1.0066 are recommended.
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EUR/USD Elliott wave For the last few days the EUR/USD pair has been trading upwards, corrective wave Y (coloured blue) of the bigger wave (2) (coloured green) has finished developing. Yesterday, during the Asian and European session we could observe ascending movement from 1.3071 towards the 1.3146 level.Therefore, during the New York session this major pair has continued trading in a bullish mood and price has reached a new high at 1.3194 level. We can consider this move as the end of the wave (2) (coloured green). At the moment the EUR/USD pair is trading around 1.3154 and we are expecting to see price lower in the next few sessions.In accordance with our wave rules and taking into account that wave 3 should retrace 161.8% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.3103 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 1.3195 level as stop loss. Support and resistance (S3) 1.3017 (S2) 1.3063 (S1) 1.3092 (PP) 1.3139 (R1) 1.3185 (R2) 1.3214 (R3) 1.3261 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.3150 with stop loss at 1.3195 and take profit at 1.3103 are recommended.
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EUR/USD Elliott Wave Since our last analyses the EUR/USD pair has been trading upwards, so we changed our primary wave count a little bit. Yesterday, during the Asian and European sessions we could observe ascending movement from 1.3067 towards the 1.3131 level and because of this move we need to look the corrective wave (2) (coloured green) as double three. Therefore, during the early New York session this major currency did not manage to hold this level and the price has retraced back to 1.3070 area. At the moment the EUR/USD pair is trading around 1.3105 and we expect to see the price lower when development of the wave (3) (coloured green) starts. In accordance with our wave rules and taking into account that the wave 3 should retrace minimum 100% of the waves 1, we can define the potential targets with measuring wave 1 with take profit at 1.2920 (100% of wave 1). To reduce the risk, we can use invalidation at 1.3215 as stop loss. Support and Resistance (S3) 1.2989 (S2) 1.3028 (S1) 1.3053 (PP) 1.3092 (R1) 1.3117 (R2) 1.3156 (R3) 1.3181 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.3050 with stop loss at 1.3215 and take profit at 1.2920 are recommended.
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GBP/USD Elliott Wave For the past few weeks the GBP/USD pair is trading upwards, in Elliott perspective this move represent corrective wave 2 (coloured blue) of the bigger wave © (coloured red). Yesterday, during the Asian and European session we could observe strong ascending movement from 1.5527 towards the 1.5590 level. Therefore, during the early New York session this major pair has continued trading in a bullish mood and price reached a new high at 1.5600. If price go below 1.5500 area today i would like to consider yesterday's high as the end of the corrective wave 2 (coloured blue) and than we can expect to see big downwards move. In accordance with our wave rules and taking into account that wave 3 should retrace 161.8% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.3433 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 1.5800 level as stop loss. Support and resistance (S3) 1.5438 (S2) 1.5482 (S1) 1.5518 (PP) 1.5562 (R1) 1.5598 (R2) 1.5642 (R3) 1.5678 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.5500 with stop loss at 1.5800 and take profit at 1.3433 are recommended
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USD/CAD Elliott Wave Last week the USD/CAD pair has been trading downwards, impulsive wave (3) (coloured blue) of the bigger wave C (coloured red) was developing. During the Friday's European session we could observe small ascending movement from 1.0180 towards the 1.0213 level and we can consider this movement as the end of the corrective sub-wave 4 (coloured green) of the (3) wave (coloured blue). Therefore, during the New York session when development of the final wave 5 (coloured green) started this currency did not manage to hold this levels and the price has retraced back to 1.0157 area. At the moment the USD/CAD pair is trading around 1.0140 and we expect to see the price higher when development of the (3) wave ends (our target 261.8% of 3 vs. 1). In accordance with our wave rules and taking into account that the wave 4 should retrace 38.2% of the waves 3, we can define the potential targets with measuring wave 3 with take profit at 1.0188 (38.2 % of wave 3). To reduce the risk, we can use support level at 1.0100 as stop loss. Support and Resistance (S3) 1.0091 (S2) 1.0124 (S1) 1.0147 (PP) 1.0180 (R1) 1.0203 (R2) 1.0236 (R3) 1.0259 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0130 with stop loss at 1.0100 and take profit at 1.0188 are recommended.
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b]USD/CAD Elliott Wave [/b] Since our last analysis the USD/CAD pair has been trading side-ways, corrective wave 2 (coloured green) of the bigger wave (3) (coloured blue) has finished its development. During the Wednesday's European session we could observe descending movement from 1.0271 towards the 1.0253 level. Therefore, during the early New York session this currency pair found support and we could observe strong bullish mood that brought the price to 1.0277 level. We can consider this movement as the end of the corrective wave 2 (coloured green). Today the USD/CAD pair is trading lower, around 1.0226 level and we expect to see the continuation of the bearish mood for the next few sessions. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the waves 1, we can define the potential targets with measuring wave A with take profit at 1.0187 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 1.0255 as stop loss. Support and Resistance (S3) 1.0209 (S2) 1.0228 (S1) 1.0240 (PP) 1.0259 (R1) 1.0271 (R2) 1.0290 (R3) 1.0302 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.0220 with stop loss at 1.0255 and take profit at 1.0187 are recommended.
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USD/CAD Elliott Wave Since our last analysis the USD/CAD pair has been trading downwards, impulsive wave 3 (coloured green) of the bigger wave (3) (coloured blue) has started its development. During the Tuesday's Asian and European sessions we could observe ascending movement from 1.0253 towards the 1.0284 level and we can consider this move as the end of the corrective wave (2) (coloured blue). Therefore, during the New York session this currency did not manage to hold this levels and the price has dropped to the new daily low at 1.0250 level. We can consider this move as the end of the sub-wave 1 (coloured green) of the (3) wave (coloured blue). At the moment the USD/CAD pair is trading around 1.0262 and we expect to see the price below 1.0200 very soon. In accordance with our wave rules and taking into account that wave 3 should retrace 161.8% of the waves 1, we can define the potential targets with measuring wave A with take profit at 1.0187 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 1.0292 as stop loss. Support and Resistance (S3) 1.0210 (S2) 1.0230 (S1) 1.0244 (PP) 1.0264 (R1) 1.0278 (R2) 1.0298 (R3) 1.0312 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.0240 with stop loss at 1.0292 and take profit at 1.0187 are recommended
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USD/CAD Elliott Wave Since our last analysis the USD/CAD pair has been trading downwards, just like we expected, impulsive wave (1) (coloured blue) of the bigger C wave (coloured red) has been developing. During the Thursday's Asian and European sessions we could observe strong descending movement from 1.0276 towards 1.0230 level and we can consider this move as the end of the impulsive wave (1) (coloured blue). Therefore, during the New York session this currency did not manage to hold this level and the price has retraced back to 1.0270 level. We can consider this move as the end of the wave (2) (coloured blue). At the moment the USD/CAD pair is trading around 1.0235 and we expect to see the price below 1.0160 level in the next few sessions. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the waves 1, we can define the potential targets with measuring wave A with take profit at 1.0163 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 1.0280 as stop loss. Support and Resistance (S3) 1.0186 (S2) 1.0207 (S1) 1.0233 (PP) 1.0254 (R1) 1.0280 (R2) 1.0301 (R3) 1.0327 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.0230 with stop loss at 1.0280 and take profit at 1.0163 are recommended.
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USD/CAD Elliott Wave Since our last analysis the USD/CAD pair has been trading higher to finish corrective wave B (coloured red) of the triangle D wave (coloured blue). Yesterday, during the Asian and European sessions we could observe strong ascending movement from 1.0133 towards the 1.0224 level. Therefore, during the New York session this commodity pair has continued to trade in a bullish mood and we could observe the price reaching 1.0258 level. We can consider this move as the end of the wave B (coloured red). At the moment the USD/CAD pair is trading around 1.0240 and we expect to see the price below 0.9890 in the next few trading sessions. In accordance with our wave rules and taking into account that wave D should retrace 61.8% of waves B, we can define the potential targets with measuring wave B with take profit at 0.9838 (61.8% of wave . To reduce the risk, we can use resistance point at 1.0290 level as stop loss. Support and Resistance (S3) 1.0044 (S2) 1.0089 (S1) 1.0169 (PP) 1.0214 (R1) 1.0294 (R2) 1.0339 (R3) 1.0419 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.0230 with stop loss at 1.0290 and take profit at 0.9838 are recommended.
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USD/CAD Elliott Wave Since our invalidation point was broken yesterday, today we consider the alternate wave count for the USD/CAD pair. On the daily chart we can see a development of triangle pattern, but now we got only 3 finished waves, and this give us plenty of room for our future trades. We are currently in the sub-wave C (coloured red) of the wave (D) (coloured blue) and we expect to see the price lower for the next few weeks. In accordance with our wave rules and taking into account that wave D should retrace 61.8% of waves B, we can define the potential targets with measuring wave B with take profit at 0.9838 (61.8% of wave . To reduce the risk, we can use resistance point at 1.0233 level (end of B wave) as stop loss. Support and Resistance (S3) 0.9998 (S2) 1.0040 (S1) 1.0071 (PP) 1.0113 (R1) 1.0144 (R2) 1.0186 (R3) 1.0217 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.0000 with stop loss at 1.0233 and take profit at 0.9838 are recommended.
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USD/CAD Elliott Wave Since our last analysis, the USD/CAD pair has been trading upwards, just like we expected, impulsive wave 1 (coloured blue) of the bigger wave (5) (coloured green) has been developing. During the Friday's Asian and European sessions we could observe strong ascending move from 1.0129 towards the 1.01235 level and we can consider this movement as the end of the impulsive wave (3) (coloured pink) of the bigger wave 1 (coloured blue). Therefore, during the New York session this major currency did not manage to hold this level and price has retraced back to 1.0157 area. At the moment the USD/CAD pair is developing a triangle pattern that is usual for the corrective wave 4 and we expect to see the price back to bullish mood very soon. In accordance with our wave rules and taking into account that wave 5 should retrace 78.6% of waves 3, we can define the potential targets with measuring wave 3 with take profit at 1.0241 (78.6% of wave 3). To reduce the risk, we can use invalidation point at 1.0141 level as stop loss. Support and Resistance (S3) 1.0005 (S2) 1.0064 (S1) 1.0117 (PP) 1.0176 (R1) 1.0229 (R2) 1.0288 (R3) 1.0341 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0175 with stop loss at 1.0141 and take profit at 1.0241 are recommended.