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Elliott Forecast

Eric Morera

Elliott Wave View: USDCAD Pullback Should Find Buyers

June 16, 2022 By

Short Term View in USDCAD suggests cycle from 06.08.2022 blue box low finished as a . Up from June 08 low, wave (i) ended at 1.2580 and dips in wave (ii) ended at 1.2546. Pair then resumes higher in wave (iii) with internal subdivision as an impulse in lesser degree. Up from wave (ii), wave i ended at 1.2709 and pullback in wave ii ended at 1.2677. Pair then resumes higher in wave iii towards 1.2943, wave iv ended at 1.2900. Final wave v ended at 1.2975 which completed wave (iii).

Pullback in wave (iv) unfolded as a flat structure. Down from wave (iii), wave a ended at 1.2929, wave b ended at 1.2973, and wave c ended at 1.2912 which completed wave (iv). Pair has resumed higher in wave (v) ended at 1.2996 and also wave ((i)) cycle was completed. Near term, we are calling a zigzag structure before see further upside. Wave (a) ended at 1.2858 and wave (b) rally is in progress. This rally should be rejected and pair should see another leg lower to finish wave (c) and ((ii)) before the rally resumes. As far as pivot at 1.2514 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-pullback-should-find-buyers/

#elliottwave #trading #usdcad

16/06/2022 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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