USDCAD, pull-back expected

“Do not be surprised, if the next move USDCAD makes is to the south.” This is an excerpt from our previous article about USDCAD, which we published on May 21st. The pair was trading around 1.0940. As shown on the chart below, prices fell by 120 pips, finding bottom at 1.0820 and reversing from there. Currently at…

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USDCAD went well. What next?

“We expect USDCAD to start rising from current levels. This count would be invalidated, if price falls below the start of the impulsive rally at 1.0811.” This in an excerpt from an article, which we published in our intraday section on May 16th. The chart below shows you how the pair looked like, when we…

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USDCAD short term bullish

On the 30-minute chart of USDCAD we are able to count a clear five-wave impulse in the upward direction, followed by the natural corresponding retracement in wave (2)/B down. As the chart shows, the corrective decline seems to have found support at the 61.8% Fibonacci level, which is quite typical. We expect USDCAD to start rising…

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EURCAD with some downside potential

The EURCAD pair finished its ending diagonal at a price of 1.5582 and then declined to 1.5000 in impulsive fashion. Normally, a correction to the upside started soon after and is currently in progress. As you can see on the chart below, we have an almost finished zig-zag a-b-c retracement in wave 2/B. Once it is completed,…

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USDCAD. What happened?

In our previous analysis on USDCAD we were expecting wave 5 to develop, once wave 4 is complete, probably in the form of a triangle. On the chart below you can see that the situation developed just as expected, with wave 5 reaching to a new top at 1.1276. But what happened next? A fast and…

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USDCAD is forming a triangle

The US dollar is still going sideways against the Canadian dollar, without making new lows or new highs, which suggests that USDCAD is forming a triangle. The chart below puts us in mind that wave (D) of the pattern is still developing. If this is the correct count, we should expect a decline in wave…

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USDCAD could go higher

An impulsive advance in combination with a flat correction, suggests that USDCAD could go higher. If we add the 38.2% Fibonacci level to the analysis, we will have one more reason to expect a move to the upside.