This article was first published on Orbex Forex Trading Blog.
- -
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
- -

usdcad elliott

The USDCAD shows that primary wave Ⓨ has completed with a standard zigzag.

Currently, we are in the initial part of intervening wave Ⓧ of the primary degree.

In the short term, we expect prices to rise in this wave near 1.341.

At that level, wave Ⓧ will be at 61.8% of zigzag Ⓨ.


An alternative scenario indicates primary wave Ⓨ consists of intermediate sub-waves (A)-(B)-(C).

Impulse wave 5 is currently under development, which is part of intermediate impulse (C).

In the short-term, minuette waves (ii)-(iii)-(iv)-(v) could lead prices to the 1.278 area.

At that level, impulse wave (C) will be at 123.6% of impulse (A).

How do you feel the CAD will fare in the coming weeks? Open your Orbex account and trade now! 

The post USDCAD Bearish Impulse Complete? appeared first on Orbex Forex Trading Blog.

To keep reading this article, please navigate to: Orbex Forex Trading Blog.