EURCAD Bulls Setting Up a 400-Pip Recovery?

The European currency has had a tough time recently, losing ground against major rivals like the U.S. dollar and the Japanese yen. Here we are going to examine the Euro’s drop against the Canadian dollar, which has been in progress since March 20th, when EURCAD climbed to a multi-year high of 1.6153. The last time…

Read More »

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…

Read More »

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…

Read More »

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…

Read More »

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…

Read More »

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”.…

Read More »

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…

Read More »

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,…

Read More »

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…

Read More »

EURCAD, Are The Bears Getting Tired?

“Wave C, which is currently under construction, does not look finished yet.” That is what we said on January 9th in “Decoding EURCAD’s Strange Behavior”. In that material we assumed EURCAD is in wave C of an A-B-C zig-zag correction with an expanding triangle for wave B. Now, two and a half months later, we…

Read More »

Decoding EURCAD’s Strange Behavior

“Wave (5) could extend the pair’s weakness a little more, but eventually EURCAD should start rising in wave II/B, which could lead the rate up to at least 1.47.” This is the final sentence of a forecast, called “EURCAD to Find Support Soon”, which we published on August 31st, 2014. Since then, the exchange rate…

Read More »

EURCAD to regain negative bias?

A five-wave impulse followed by a three-wave correction is what every Elliottician is looking for. It seems that we have found one such pattern on the hourly chart of EURCAD. According to the Elliott Wave Principle, the prices of financial instruments move in “waves” as follows: five waves in the direction of the larger trend and…

Read More »

EURCAD to find support soon

According to the Elliott Wave Principle, trends move in waves – five waves in the direction of the larger trend, followed by three waves against it. This is the 5-3 Elliott Wave cycle. So, if you suspect that the price chart of a particular financial instrument shows an almost finished five-wave impulse, you better prepare…

Read More »

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,…

Read More »

Ending Diagonal? What is this?

In conventional technical analysis they call it “wedge”. In Elliott Wave analysis we call it “ending diagonal”. Both terms imply the same thing – reversal ahead, but since we work with the Wave Principle, we will refer to it as an ending diagonal. So, what is it? On the example chart below you can see…

Read More »