rounded corner
rounded corner
top border

Elliott Wave View: Dips in USDCAD Should Find Buyers


Bookmark and Share

USDCAD 45 minutes chart below shows that the pair has ended 3 wave pullback from June 15 high in wave 2. The pullback unfolded asdouble three Elliott Wave structureand ended at 1.3482 low. Afterwards, the pair resumed higher in wave 3. Up from 1.3482 low, wave ((i)) ended at 1.3559 high. Wave ((ii)) pullback ended at 1.3525 low. The pair then extended higher in wave ((iii)), which ended at 1.3666 high. The internal subwave of wave ((iii)) unfolded as 5 waves impulse Elliott Wave structure in lesser degree. The pullback in wave ((iv)) then unfolded as a triangle and ended at 1.3632 low. From there, the pair pushed higher in wave ((v)) which ended at 1.3715 high. This final move completed wave 3 in higher degree and ended cycle from June 23 low.

The pair is currently doing a pullback in wave 4 to correct the cycle from June 23 low. The correction is unfolding as a double three structure. Down from wave 3 high, the pair ended wave ((w)) at 1.3642 low. Wave ((x)) bounce ended at 1.3705 high. Wave ((y)) is currently in progress. While above 1.3482 low, expect the dips to find support in 7 or 11 swings for more upside. The 100 -161.8% extension of wave ((w))-((x)) where wave ((y)) can potentially end is at 1.3586 1.3631 area and shown with a blue box. That area, if reached later, can see a reaction for 3 waves bounce at least.

USDCAD 45 Minutes Elliott Wave Chart

USDCAD 30 June



Recent articles from this author



About the author


Elliottwave-Forecast.com  (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients.

ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, cycles, proprietary pivot system, we provide precise forecasts with up-to-date analysis for 42 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary actionable trade setups, market overview, 1 Hour, 4 Hour, Daily & weekly wave counts. Weekend webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

Published by Barchart
Home  •  Charts & Quotes  •  Commentary  •  Authors  •  Education  •  Broker Search  •  Trading Tools  •  Help  •  Contact  •  Advertise With Us  •  Commodities
Markets: Currencies  •   Energies  •   Financials  •   Grains  •   Indices  •   Meats  •   Metals  •   Softs

The information contained on InsideFutures.com is believed to be accurate but is not guaranteed. Market data is furnished on an exchange delayed basis by Barchart.com. Data transmission or omissions shall not be made the basis for any claim, demand or cause for action. No information on the site, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any futures or options contracts. InsideFutures.com is not a broker, nor does it have an affiliation with any broker.


Copyright ©2005-2020 InsideFutures.com, a Barchart.com product. All rights reserved.

About Us  •   Sitemap  •   Terms of Use  •   Privacy Policy