HomeContributorsTechnical AnalysisElliott Wave Analysis: USDCAD And Crude Oil

Elliott Wave Analysis: USDCAD And Crude Oil

USDCAD turned down in five waves from 1.3262 which means that pair is in new intraday bearish trend which is likely going to see lower prices after A-B-C bounce to 1.3200 resistance from where market may drop even to 1.3055 swing support from Nov 07. At the same time, we also see Crude oil in recovery mode within wave 4) that can be headed to 59.42 resistance by the end of the week.

USDCAD, 1h

Crude oil, 1h

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
Trading forex, futures or futures options carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.

Featured Analysis

Learn Forex Trading

Do You Have a Cut-Off Point?

Trade Bitcoin the Right Way