empty
 
 
20.03.2014 04:31 PM
Elliott Wave Analysis of USD/CAD for March 20, 2014

This image is no longer relevant

USD/CAD Elliott Wave
Since our last analysis, the USD/CAD pair has been trading upwards, just like we expected, we have slightly adjusted our primary view, but the trend stayed unchanged. In the 1-hour chart of the pair, we can see that we are looking at the corrective (X) wave (coloured red) as the Triangle pattern from January 31. At the moment, we are in the [iii] wave (coloured black) of the bigger wave A (coloured blue), and while the price remains above the 1.1120 level, we are going to focus only on the buying opportunity in the (Z) wave. In accordance with our wave rules and taking into account that wave (Z) should extend 100% of wave (Y), we can define the potential targets with measuring wave (Y) with take profit at 1.1527 (100% of wave (Y)).

Support and Resistance

(S3) 1.0939, (S2) 1.0982, (S1) 1.1059, (PP) 1.1102, (R1) 1.1179, (R2) 1.1222, (R3) 1.1299.

Trading forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin upward movements. That is why long positions at the level of 1.1140 with stop loss at 1.1060 and take profit at 1.1348 are recommended.

通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In June we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback