USDCAD Moves Like It Is Programmed

The week did not start well for USDCAD, which declined to 1.3139 on Monday, October 10th, but the bulls managed to regroup and pushed the pair back up to 1.3306 so far. It looks like the rate is going to reach a new multi-month high soon. However, it is a little hard to profit from…

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EURCAD on the Brink of a 700+-Pip Crash

The last time we wrote about EURCAD was on May 5th, 2016, while the pair was trading around 1.4660. In “EURCAD Elliott Wave Dissection” we thought a three-wave (A)-(B)-(C) zig-zag correction was in progress, so we were expecting a decline in wave (B), followed by another rally in wave (C). The chart below is a…

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USDCAD Bulls Should Have Seen the Warning

Last Friday, USDCAD climbed to 1.3247 and despite this week’s attempts to reach this level again, the best the bulls were capable of was 1.3242. Instead of continuing higher after two weeks of steady gains from 1.2822, the pair lost over 200 pips and is currently trading near 1.3040. Most people would say that the Fed’s…

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USDCAD’s Elliott Wave “Road Map”

USDCAD has been rather boring recently. The pair has been moving sideways for several months now, locked between 1.3250 and 1.2660 since May. Such behavior could easily annoy traders, who are waiting for a clear trend to join. Boring or annoying, however, does not mean that USDCAD has been unpredictable. The following chart first emerged…

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USDCAD Forecast Still Valid After Two Months

USDCAD reached 1.3187 in May, but then fell to as low as 1.2654 by June 8th. However, the pair recently took out the top at 1.3187 and managed to climb to 1.3251. Our purpose is not to explain why did this happen, but to demonstrate that with the proper forecasting method and the ability to…

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USDCAD With an Incredible Development

USDCAD is back to the upside. After bottoming at 1.2654, the pair is once again looking bullish just a day after it climbed to 1.3090. But simply being able to identify the support and resistance levels does not mean we could correctly predict the market swings. In order to do so, we would need something…

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USDCAD’s Plunge Not Surprising At All

It was June 2nd, when USDCAD climbed to 1.3142 and it looked like it was only a matter of time for the pair to reach a new high above the previous one at 1.3187. But instead of continuing higher, the exchange rate reversed sharply to the south and, as a result of a steep sell-off,…

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EURCAD Elliott Wave Dissection

EURCAD was flying above 1.6100 in January this year. A little over 4 months later – in the end of April – the pair almost completed a 20-figure crash, when it fell to 1.4180. EURCAD is currently hovering around 1.4680, but simply mentioning these price levels is not going to tell us anything about the…

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EURCAD and the Power of Elliott Wave

EURCAD was trading at 1.5785 on February 11th, when we published “EURCAD at the Edge of the Abyss?”. We were expecting a sell-off, which “should be powerful enough to take the exchange rate below 1.5100.” In other words, we were anticipating a decline of nearly 700 pips. As always, the reason for this negative outlook…

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EURCAD at the Edge of the Abyss?

In our previous analysis of EURCAD, we suggested the pair has to complete a three-wave corrective recovery, before the time for another large leg to the south arrives. It took a while, but now we could see what type of correction EURCAD has chosen. It is given on the chart below. We could easily count…

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EURCAD’s Recent Weakness Deciphered

EURCAD surpassed the 1.61 mark on January 20th, but the bulls could not hold on to that momentum, which led to a sharp decline to 1.5245 just five days later. Currently, the pair stands slightly above 1.5415, but the recovery seems to be a timid one, not giving us enough confidence to “buy the dip”.…

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EURCAD: Is The End Nigh For The Bears?

Less than a month ago, on September 16th, we published “The EURCAD Saga Continues”, saying that “the exchange rate is likely to plunge below the 1.46 mark again.” We thought so, because of what we saw on the hourly chart of EURCAD. According to the Elliott Wave Principle, a five-wave impulse to the south, followed…

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USDCAD: Should You “Buy The Dip”?

It’s been a little over five months, since we published “USDCAD Bulls Are Waking Up” on May 3rd. In that article we shared our big picture outlook, assuming the pair should start rallying again in the face of wave (5) of III, which is supposed to climb above the previous top of 1.2835. The chart…

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The EURCAD Saga Continues

On July 29th we published “EURCAD And The Art Of Reversal Prediction” to demonstrate how the Elliott Wave Principle can help you forecast major reversals by looking only at one chart. EURCAD was trading slightly above 1.4300 at the time, but due to the fact that the whole decline from 1.56 to 1.3015 is corrective,…

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EURCAD And The Art Of Reversal Prediction

It’s been more than four months since we published “EURCAD, Are The Bears Getting Tired?”. On March 27th, while EURCAD was trading near 1.3570, we suggested that “wave 5 of C should make one last bottom before the bears run out of power. After that, EURCAD should be looked at from the bullish side”. Here…

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