empty
 
 
21.10.2021 07:14 AM
Elliott wave analysis of USD/CAD for October 21, 2021

This image is no longer relevant

USD/CAD is in a huge corrective decline to 0.7540. We have seen wave A from 1.6184 to a low of 0.9059 and wave B has since taken us to a high of 1.4690. Now, wave C is making it way lower to the ideal target near 0.7540.

We know that wave C should be in five waves and our preferred count shows. It has only just started on Su-wave 3/ of 3 lower to 0.8644. Alternatively, sub-wave 2/ still could be in motion and call for a move closer to the 61.8% corrective target of wave 1 towards 1.3654 before down sharply as wave 3/ of 3 unfolds.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • 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 April 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

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback