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USD/CAD Turning Bullish - Elliott Wave Analysis

ByGregor Horvat
Published 08/11/2020, 04:13 AM
Updated 07/09/2023, 06:31 AM

{7|USD/CAD}} looks to have found a low for a higher degree wave 5 of C) at the 1.323 level, where a five-wave structure within a wave 5 had ended, and a sharp recovery started forming. We see current rise breaking above the upper channel line, which suggests a low in place, and a three-wave reversal underway. That said, be aware of temporary pullbacks; wave b/ii can be next.
A later break above the 1.345 level will be bullish for the pair.
usdcad, 4h

Latest comments

You should be able to see the correlations above all. They come before purely technical instruments such as Elliott Wave. By following only one tool you get fool by the market and its "real" trends. Enjoy.
now it is below from your support level,,, whats next is possibility ☹️
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