#USDCAD, Despite the increases...The above model speaks for itself but we will add some points anyway!
We already had 3 encounters with the diagonal resistance line and everyone responded in descents, and at this moment we are a few pips from the resistance!
The Stochastic indicates Overbought
We have a start of a red Ichimoku cloud that warns of a downward trend.
Target: 1.32
If usdcad breaks the resistance this signal will be canceled
Usdcadidea
USDCAD - Forex Majors | Elliott Wave Patterns | November 2019USD/CAD - Elliott Wave Technical Analysis
Structure & Degree: Primary Degree B (red) Complex Structure, Double Three
- Intermediate (W) (purple): Semi Complex Flat within Minors ABC (blue)
- Intermediate (X) (purple): Complex Flat within Minors WXY (pink):
Semi-Impulsive Minor A (blue)
Bull-Flag (Double Three) Correction in Minor B (blue)
Bullish Impulse in Minor C (blue)
Current Position & Pattern:
- 3 of 3's within Minor C (blue)
Expected Swing:
- Bullish Impulse in Minute iii (green)
Technicals & Confirmations:
- Double Top on Intermediate (W) (turquoise) starting points
- 50% or 61.8% Fibonacci Retracements of Minuettes (i) & (ii) (black)
- 61.8% Fibonacci Extensions of Minors A & B (blue)
- Reversed Bullish Divergence on the Ascending Channel
- Bullish Harmonic Structure
USDCAD - EDUCATION - 25. AUGU. 2019Welcome to our weekly market Breakdown (USDCAD)!
1 HOUR
Sideways waving market structure.
4 HOUR
Slowly rising market with several pullbacks and low pressure.
DAILY
Bullish market found its resistance in my opinion.
OVERALL
Two very likely scenarios in usdcad this week, depending on price action on monday
prices should fake a breakout either to the upside or below previous week support zone.
I will update you about everything, be patient :)
Good luck
-
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
#USDCAD, Analysis+SignalBear trend.
You can see in the graph above that the average line moves 200 very reliable which means that the usdcad above the line is worth buying and when the usdcad below is worth selling.
This is already the second time that usdcad is trying to rise above the trend line with no success.
Target: 1.3175