Elliott Wave Analysis: Anticipating an Upward move in USDCAD
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Hello Traders,
Trust you are great.
Below is my Elliott wave analysis of USDCAD currency pair
Analysis:
The structure of the USDCAD currency pair suggests the formation of an irregular Flat corrective pattern. The initial Wave A has taken the form of a leading diagonal, moving downward.
Current State:
Wave B appears to have completed its formation. The next expected movement is the formation of Wave C.
Expectation:
An impulsive Wave C is anticipated to move upward towards the 1.37445 - 1.38147 region before a subsequent decline.
Invalidation level for the upside projection: 1.3605.
Cheers!
Trust you are great.
Below is my Elliott wave analysis of USDCAD currency pair
Analysis:
The structure of the USDCAD currency pair suggests the formation of an irregular Flat corrective pattern. The initial Wave A has taken the form of a leading diagonal, moving downward.
Current State:
Wave B appears to have completed its formation. The next expected movement is the formation of Wave C.
Expectation:
An impulsive Wave C is anticipated to move upward towards the 1.37445 - 1.38147 region before a subsequent decline.
Invalidation level for the upside projection: 1.3605.
Cheers!
Uwaga
UPDATE: Invalidation area adjusted. Idea still appears valid.Let's see.
Uwaga
The pair did just as predicted. It has done over 100pips so far. Uwaga
Now, reversal can occur any moment from now. Be on the lookout for confirming price action.Cheers guys.
Uwaga
USDCAD did +117pips.Transakcja zamknięta: osiągnięto wyznaczony cel
Uwaga
UPDATE: Reversal to the downside supported by bearish Gartley. First target is 1.36720.Uwaga
UPDATE: After the completion of initial upward move, price dropped by +85pips just as predicted.Elliott wave projection:
Harmonic projection:
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