Daily Wave Analysis from InstaForex

[NDelic]

AUDUSD Elliott Wave

For the last few days the AUD/USD pair has been trading downwards, impulsive wave .3 (coloured green) of the bigger wave 1 (coloured blue) has been developing. Yesterday, during the Asian and European sessions we could observe descending movement from 0.9187 towards the 0.9075 level. Therefore, during the New York session this major currency has continued trading in a bearish mood and the price has reached a new daily low at 0.9044 level. Today the AUD/USD pair is trading around 0.9020 level and we expect to see the end of the impulsive wave .3 very soon. In accordance with our wave rules and taking into account that wave 4 should retrace 38.2% of wave 3, we can define the potential targets with measuring wave 3 with take profit at 0.9104 (38.2% of wave 3). To reduce the risk, we can use support point at 0.8960 level as stop loss.

Support and Resistance

(S3) 0.8835 (S2) 0.8939 (S1) 0.9002 (PP) 0.9106 (R1) 0.9169 (R2) 0.9273 (R3) 0.9336

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 0.8990 with stop loss at 0.8960 and take profit at 0.9104 are recommended

[NDelic]

USD/CAD Elliott Wave

For the last few days we are tracking the corrective wave (A) (coloured green) as finished, and yesterday's bullish movement finally confirmed this scenario. During the Thursday's Asian and European sessions we could observe ascending movement from 1.0262 towards the 1.0324 level. Therefore, during the New York session this major currency has continued trading in bullish mood and the price has reached a new high at 1.0362 level. At the moment the USD/CAD is trading around 1.0375 and we expect to see more bullish movements before first sub-wave A (coloured blue) complete all five subwaves. In accordance with our wave rules and taking into account that wave 5 should retrace 61.8% of wave 3,so we can define the potential targets with measuring wave 3 with take profit at 1.0410 (61.8% of wave 3). To reduce the risk, we can use invalidation point at 1.0289 level as stop loss.

Support and Resistance

(S3) 1.0203 (S2) 1.0233 (S1) 1.0289 (PP) 1.0319 (R1) 1.0375 (R2) 1.0405 (R3) 1.0461

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.0336 with stop loss at 1.0289 and take profit at 1.0410 are recommended.

[NDelic]

AUDUSD Elliott Wave

Last week the AUDUSD pair traded downwards, just like we had expected, impulsive wave 3 (coloured blue) of the bigger wave (5) (coloured green) was developing. During the Friday's Asian and European sessions we could observe ascending movement from 0.8888 towards the 0.8968 level and we can consider this move as the end of the corrective wave .4 (coloured green) of the bigger wave 3 (coloured blue). Therefore, during the New York session this currency did not managed to hold this level and the price retraced back to 0.8869 level. At the moment the AUDUSD pair is trading around 0.8899 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 4 should retrace 38.2 of wave 3, we can define the potential targets with measuring wave 3 with take profit at 0.9018 (38.2% of wave 3). To reduce the risk, we can use support point at 0.8800 level as stop loss.

Support and Resistance

(S3) 0.8759 (S2) 0.8814 (S1) 0.8858 (PP) 0.8913 (R1) 0.8957 (R2) 0.9012 (R3) 0.9056

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 0.8900 with stop loss at 0.8800 and take profit at 0.9018 are recommended.

[NDelic]

AUDUSD Elliott Wave

Since our last analysis the AUD/USD pair has been trading upwards, the corrective wave iv (coloured blue) of the bigger wave (5) (coloured green) has been developing. During the Wednesday's Asian session we could observe descending movement from 0.9002 towards 0.8918 level and we could consider this move as the end of the corrective wave .X (coloured green). Therefore, during the European and New York sessions this major currency did not manage to keep the bearish moods and the price retraced to 0.9035 level. At the moment, the AUD/USD pair is trading around 0.9071 and we are expecting to see the end of wave 4 very soon. 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 0.8813 (61.8% of wave 3). To reduce the risk, we can use resistance point at 0.9130 level as stop loss.

Support and Resistance

(S3) 0.8832 (S2) 0.8876 (S1) 0.8937 (PP) 0.8981 (R1) 0.9042 (R2) 0.9086 (R3) 0.9147

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin to move downwards. That is why short positions at the level of 0.9040 with stop loss at 0.9130 and take profit at 0.8813 are recommended.

[NDelic]

AUDUSD Elliott Wave

Since our last analysis the AUDUSD pair has been trading downwards, just like we expected, corrective wave X (coloured blue) of the bigger wave (4) has started developing. During the Friday's Asian and European sessions, we could observe ascending movement from 0.9109 towards 0.9179. Therefore, during the New York session, this currency pair has continued trading in a bullish mood and the price has reached a new sessions high at 0.9214. At the moment, the AUDUSD pair is trading around 0.9153 and we are expecting to see continuation of this bearish move for the next few sessions. In accordance with our wave rules and taking into account that wave X should retrace 50% of wave X, we can define potential targets with measuring wave W with take profit at 0.9032 (50% of wave W). To reduce the risk, we can use resistance point at 0.9250 as stop loss.

Support and Resistance

(S3) 0.8986 (S2) 0.9035 (S1) 0.9116 (PP) 0.9165 (R1) 0.9246 (R2) 0.9295 (R3) 0.9376

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 0.9145 with stop loss at 0.9250 and take profit at 0.9032 are recommended.

[NDelic]

AUDUSD Elliott Wave

For the last few days the AUDUSD pair was trading downwards with a lot of overlapping and we think that bearish move from 0.9221 is correction X of wave (coloured blue) of the bigger (4) wave (coloured green). Yesterday, during the Asian session we could observe ascending movements from 0.9100 towards 0.9147. Therefore, during the European and New York sessions this major currency did not manage to hold this levels and the price retraced to 0.9072 ( a new session low). At the moment, the AUDUSD pair is trading around 0.9100 and we are expecting to see further developments in next few sessions. In accordance with our wave rules and taking into account that wave Y should retrace 100% of wave W, we can define potential targets with measuring wave Y with take profit at 0.9435 (100% of wave W). To reduce the risk, we can use support point at 0.8960 as stop loss.

Support and Resistance

(S3) 0.8998 (S2) 0.9035 (S1) 0.9073 (PP) 0.9110 (R1) 0.9148 (R2) 0.9185 (R3) 0.9223

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long postions at level 0.9140 with stop loss at 0.8960 and take profit at 0.9435 are recommended.

[NDelic]

AUDUSD Elliott Wave

Since our last analyses the AUDUSD pair has been trading downwards, so we extended our blue X wave a little bit. Yesterday, during the Asian session we could observe ascending movement from 0.9117 towards 0.9188 and we are counting this move as the end of the .X wave (coloured gree). Therefore, during the European and New York session� when developing of the final Y wave starts this currency push aggressively lower and the price make a new low at 0.9057. We are considering this move as the end of the X wave (coloured blue). At the moment the AUDUSD pair is trading around 0.9174 and we should see price higher for the next few days.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 Y with take profit at 0.9431 (100% of wave W). To reduce the risk, we can use support point at 0.9050 level as stop loss.

Support and Resistance

(S3) 0.8938 (S2) 0.8998 (S1) 0.9069 (PP) 0.9129 (R1) 0.9200 (R2) 0.9260 (R3) 0.9331

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 0.0200 with stop loss at 0.9050 and take profit at 0.9431 are recommended

[NDelic]

AUDUSD Elliott wave

During the last week the AUDUSD pair was trading upwards, just like we expected, corrective wave .a (coloured green) of the Y wave developed. During the Friday's Asian and European sessions we could observe ascending movement from 0.9132 towards the 0.9187 level. Therefore, during the early New York session this major currency continued trading in a bullish mood and we could see the price reaching a new high at the 0.9213 level. Today, the AUDUSD pair has found resistance around the 0.9232 level and we are expecting to see retracement in the .b wave that should be in place right now. In accordance with our wave rules and taking into account that wave B should retrace 61.8% of wave A, we can define the potential targets with measuring wave A with take profit at 0.9126 (61.8% of wave A). To reduce the risk, we can use support point at the 0.9230 level as stop loss.

Support and Resistance

(S3) 0.9042 (S2) 0.9083 (S1) 0.9132 (PP) 0.9173 (R1) 0.9222 (R2) 0.9263 (R3) 0.9312

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin downward movement. That is why short positions at the level of 0.9200 with stop loss at 0.9230 and take profit at 0.9126 are recommended.

[NDelic]

USD/CAD Elliott Wave

For the last few days the USDCAD pair has been trading upwards, and that is why we must look at the blue wave 2 as incomplete cycle. Yesterday, during the Asian and European session we could observe ascending movement from 1.0315 towards 1.0337 level. Therefore, during the early New York session the USDCAD pair has continued trading in a bullish mood and we could see new sessions high at 1.0347 level. At the moment price is trading around 1.0350 and we should see one more push higher before the 2 wave is complete. In accordance with our wave rules and taking into account that wave Y should retrace 100% of wave W,so we can define the potential targets with measuring wave W with take profit at 1.0384 (100% of wave W). To reduce the risk, we can use invalidation point at 1.0310 level as stop loss.

Alternation: if price continue to push lower and break below 1.0310 we must consider the 1.0384 as the end of the wave 2 (coloured blue).bearish movement for Mid-Term.

Support and Resistance

(S3) 1.0292 (S2) 1.0303 (S1) 1.0324 (PP) 1.0335 (R1) 1.0356 (R2) 1.0367 (R3) 1.0388

Trading forecast

Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long position at level 1.0360 with stop loss at 1.0310 and take profit at 1.0251 are recommended.

[NDelic]

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.

[NDelic]

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.

[NDelic]

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.

[NDelic]

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.

[NDelic]

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.

[NDelic]

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.

[NDelic]

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.  

[NDelic]

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.  

[NDelic]

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.  

[NDelic]

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.  

[NDelic]

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.  

 

[NDelic]

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.  

 

[NDelic]

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.  

 

[NDelic]

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.  
 

[NDelic]

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. 
 

[NDelic]

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.