The USDCAD appears to be carving out some impulsive moves higher. This makes sense given that USOil has been slipping lower and appears poised to revisit $45/bl.
There is a cluster of wave relationship showing up in the 1.27 handle. If we successfully break above 1.28 (I’m showing a small degree false breakout zone of 1.2800-1.2820), then I’m eyeing 1.30-1.31.
Above 1.28, prices should hold above the previous wave 1’s.
Due to the multiple wave relationships in the 1.27 handle, a dip to 1.2600 is higher probability. This would be a dip to buy and let the market dictate what happens from there from an Elliott Wave perspective.
The trade plan for the USDCAD is simple, buy a break above 1.2800 or a dip to near 1.2600.
There is a cluster of wave relationship showing up in the 1.27 handle. If we successfully break above 1.28 (I’m showing a small degree false breakout zone of 1.2800-1.2820), then I’m eyeing 1.30-1.31.
Above 1.28, prices should hold above the previous wave 1’s.
Due to the multiple wave relationships in the 1.27 handle, a dip to 1.2600 is higher probability. This would be a dip to buy and let the market dictate what happens from there from an Elliott Wave perspective.
The trade plan for the USDCAD is simple, buy a break above 1.2800 or a dip to near 1.2600.
Test your Elliott Wave readiness.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Test your Elliott Wave readiness.
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
Free assessment + bonus training videos customized to your score:
qwiz.seethewaves.com/ewreadiness/p/tv1
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.