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Elliott Forecast

Eric Morera

Elliott Wave View: USDCAD Buyers in Control

May 13, 2022 By

Short Term View in USDCAD suggests cycle from 04.21.2022 low is in progress as a . Up from April 21 low, wave ((i)) ended at 1.288 and dips in wave ((ii)) ended at 1.2709. Pair then resumes higher in wave ((iii)) with internal subdivision as an impulse in lesser degree. Up from wave ((ii)), wave (i) ended at 1.2868 and pullback in wave (ii) ended at 1.281. Pair then resumes higher in wave (iii) towards 1.3037, wave (iv) ended at 1.295. Final wave (v) ended at 1.305 which completed wave ((iii)).

Pullback in wave ((iv)) unfolded as a zigzag structure. Down from wave ((iii)), wave (a) ended at 1.295, wave (b) ended at 1.304, and wave (c) ended at 1.2917 which completed wave ((iv)). Wave (c) ended at the 100% – 161.8% Fibonacci extension of wave (a). This area is denoted as a blue box on the chart. Pair has resumed higher in wave ((v)). Up from wave ((iv)), wave (i) ended at 1.3076. Near term, as far as pivot at 1.2917 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.

USDCAD 45 Minutes Elliott Wave Chart

USDCAD Elliott Wave Video

Source:-forecast.com/news/elliott-wave-view-usdcad-buyers-control/

#elliottwave #trading #USDCAD

13/05/2022 1 EN

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Elliott Forecast

Elliott Forecast

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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Eric Morera

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