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Elliott Forecast

Eric Morera

Elliott Wave View: CADJPY Zigzag Correction

May 3, 2022 By

Short Term Elliott Wave View in CADJPY suggests cycle from December 20, 2021 has ended with wave ((1)) at 102.96. Pullback in wave ((2)) is currently in progress to correct that cycle. Internal subdivision of wave ((2)) is unfolding as a . Down from wave ((1)), wave 1 ended at 99.8 and rally in wave 2 ended at 101.02. Pair resumes lower in wave 3 towards 99.13, wave 4 ended at 99.74, and wave 5 ended at 98.96. This completed wave (A) in higher degree.

Wave (B) rally ended at 102.46 with internal subdivision as a zigzag structure in lesser degree. Up from wave (A), wave A ended at 100.12, pullback in wave B ended at 99.43, and wave C ended at 102.46 which completed wave (B). Expect pair to extend lower in wave (C) with internal subdivision as another 5 waves in lesser degree. Down from wave (B), wave 1 ended at 100.59. While wave 2 rally fails below wave (B) at 102.46, and more importantly below wave ((1)) at 102.96, pair should resume lower. Potential target for wave (C) lower is 100% – 161.8% Fibonacci extension of wave (A) which comes at 96 – 98.4.

CADJPY 45 Minutes Elliott Wave Chart

CADJPY Elliott Wave Video

Source:-forecast.com/news/elliott-wave-view-cadjpy-zigzag-correction/

#elliottwave #trading #CADJPY

03/05/2022 1 EN

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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 52 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.

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