Tag Archives: USDCAD Signals

USD/СAD Wave analysis and forecast of 27.02 – 06.03

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USD/СAD Wave analysis and forecast of 27.02 – 06.03: The pair is expected to grow.

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Estimated pivot point is at the level of 1.2358.

Our opinion: Buy the pair from correction above a level of 1.2358 with the target of 1.29 – 1.30. In case of breakdown and consolidation below the level of 1.2358, the selling target can be set at 1.22 – 1.20.

Alternative scenario: Breakdown and consolidation below the level of 1.2358 will allow the pair to continue declining to the levels of 1.22 – 1.20.

Analysis: The development of local correction in a form of triangular fourth wave (iv) is nearing completion. Apparently, the final wave e of (iv) is forming locally. If this assumption is correct and the price does not break the critical level 1.2368, the pair will resume growth within an upward trend.

USDCAD-H1

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USDCAD-H4

USD/СAD Wave analysis and forecast of 20.02 – 27.02

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USD/СAD Wave analysis and forecast of 20.02 – 27.02: The pair is expected to grow.

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Estimated pivot point is at the level of 1.2358.

Our opinion: Buy the pair from correction above a level of 1.2358 with the target of 1.29 – 1.30. In case of breakout and consolidation below the level of 1.2358, the selling target can be set at 1.22 – 1.20.

Alternative scenario: Breakout and consolidation below a level of 1.2358 will allow the pair to continue declining to the levels of 1.22 – 1.20.

Analysis: Presumably, local correction in a form of fourth wave (iv) is completed and currently has a shape of a flat surface. Locally, the fifth wave (v) of iii of junior level has apparently started developing. If this assumption is correct, the pair will continue to grow to 1.29 – 1.30. The level 1.2358 is critical in this scenario.

USDCAD-D1

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USDCAD-H4

USD/СAD Wave analysis and forecast of 07.11 – 14.11

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USD/СAD Wave analysis and forecast of 07.11 – 14.11: “Bearish” correction is likely to develop.

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Estimated pivot point is at the level of 1.1363.

Our opinion: Sell the pair from correction after breakdown of the level of 1.1363 below the local highs, which has been formed with the targets of 1.1120.

Alternative scenario: Breakout and consolidation of the price above the level of 1.1480 will enable the pair to continue the rise up to the levels of 1.1550 – 1.16.

Analysis: Presumably, the formation of the ascending momentum wave has completed within the fifth wave in the third wave of the senior level. If this assumption is correct, after breakdown of the level of 1.1363, the pair will continue to decline in the fourth wave (4) to the levels of 1.1120 – 1.0620.

USDCAD-D1 USDCAD-H4

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USD/СAD Wave analysis and forecast of 10.10 – 17.10

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USD/СAD Wave analysis and forecast of 10.10 – 17.10: Uptrend continues. The pair is likely to continue growth.

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Estimated pivot point is at the level of 1.1070.

Our opinion: Buy the pair from the correction above the level of 1.1070 with the target of 1.13.

Alternative scenario: Breakout and consolidation of the price below the level of 1.1070 will enable the pair to continue the decline to the levels of 1.10 – 1.09.

Analysis: Presumably, the formation of the third wave iii of the senior level continues. In this wave the fifth wave of the junior level (v) of iii is being formed. If this assumption is correct and the price does not break down the critical level of 1.1070, it makes sense to expect that the pair will continue to grow to the level of 1.13 in the third wave.

USDCAD-D1

USDCAD-H4

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USD/СAD Wave analysis and forecast of 03.10 – 10.10

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USD/СAD Wave analysis and forecast of 03.10 – 10.10: With an ascending trend, the pair is likely to continue growth.

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Estimated pivot point is at the level of 1.1066.

Our opinion: Buy the pair from corrections above the level of 1.1066 with the target of 1.13.

Alternative scenario: Breakout and consolidation of the price below the level of 1.1066 will enable the pair to continue to decline to the levels of 1.1010 – 1.010 as part of second wave correction.

Analysis: Presumably, the third wave iii of the senior level continues to be forming, with the third wave of junior order (iii) of iii developing as its part. Locally, the impetus in the first wave i of (iii) and its correction ii of (iii) are completed. If the assumption is correct and the price does not break the critical level of 1.1066, the pair will continue to grow to the levels of 1.12 – 1.13 as part of the third wave.

USDCAD-H1

USDCAD-H4

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USD/СAD Wave analysis and forecast of 19.09 – 26.09

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USD/СAD Wave analysis and forecast of 19.09 – 26.09: Uptrend continues. Locally, the pair is undergoing correction.

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Estimated pivot point is at the level of 1.0807.

Our opinion: Buy the pair from the correction above the level of 1.0807 with the target of 1.12.

Alternative scenario: Breakout and consolidation of the price below the level of 1.0807 will enable the pair to continue the decline to the levels of 1.0750 – 1.07.

Analysis: Presumably, local “bearish” correction as the second wave of the junior level (ii) of iii of 5 is nearing completion. If this assumption is correct, after the completion of the correction the pair will continue to grow to the levels of 1.11 – 1.12 in the third wave. Critical level for this scenario is 1.0807.

USDCAD-D1 USDCAD-H4

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USD/СAD Wave analysis and forecast of 29.08 – 05.09

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USD/СAD Wave analysis and forecast of 29.08 – 05.09: “Bearish” correction is being formed.

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Estimated pivot point is at the level of 1.0998.

Our opinion: Sell the pair from correction below the level of 1.0998 with the target of 1.08 – 1.0760

Alternative scenario: Breakout and consolidation above the level of 1.0998 will make the price continue the rise to the levels of 1.11 – 1.12 as part of the upward trend.

Analysis: Presumably, the formation of the ascending momentum in the first wave i of 5 of (3) is completed. Locally, a bearish correction is being formed in a form of the wave ii. If this assumption is correct, the pair will continue its local decrease to the levels of 1.08 – 1.0760.

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USD/СAD Wave analysis and forecast of 22.08 – 29.08

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USD/СAD Wave analysis and forecast of 22.08 – 29.08: The pair is likely to grow.

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Estimated pivot point is at the level of 1.0857.

Our opinion: Buy the pair from correction above the level of 1.0857 with the target of 1.1060.

Alternative scenario: Breakout and consolidation below the level of 1.0857 will make it possible for the price to continue the decline to the level of 1.08 in the second wave.

Analysis: Presumably, the formation of the ascending momentum in the first wave i of 5 of (3) is being completed. Locally, the fifth wave (v) is being formed and nearing completion. If this assumption is correct, it’s logical to expect a deep correction to form in the wave ii of 5 of (3) near the level of 1,08.

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USDCAD-D1 USDCAD-H4

Weekly Trading Forecasts on Major Pairs (August 4 – 8, 2014)‏

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Here’s the market outlook for this week:

EURUSD
Dominant bias: Bearish
This pair has continued its southward journey with price breaking below the resistance line at 1.3400. This level is a war zone between bulls and bears, so price will be making some attempts to get back above it. Should the initial resistance line get broken and price moves up, another resistance line at 1.3450 will act as a secondary hurdle for the bulls, so any break above 1.3450 will pose a serious threat to the bearish trend. Meanwhile, the bearish trend seems likely to continue, pushing price towards the support lines at 1.3350 and 1.3300.

USDCHF
Dominant bias: Bullish
As forecast last week, USD/CHF was able to test the resistance level at 0.9100. This is an area where some bulls will want to take profits, as price ought to drop at least some way from there. For the bullish journey to continue, price needs to break that resistance level, going towards another resistance level at 0.9150. If this fails to occur, a near-term or medium-term bearish run is likely to begin.

GBPUSD
Dominant bias: Bearish
Cable dropped by about 120 pips this week, and the bearish outlook is currently strong – forming a clean Bearish Confirmation Pattern in the chart. This means a high probability of price continuing even further downwards, testing the accumulation territories at 1.6850 and 1.6800 respectively – especially with the distribution territories at 1.6950 and 1.7000 acting as impediment to any rallies along the way.

USDJPY
Dominant bias: Bullish
The Greenback is strong, so it is no wonder that USD/JPY rallied – especially in the face of Yen weakness. This market has tested the supply level at 103.00, which must be broken before any serious northward movement can continue. However, some deep pullbacks towards the demand levels at 102.50 and 102.00 are possible.

EURJPY
Dominant bias: Bullish
EUR itself is not that strong but, as a result of exponential weakness in JPY, EUR/JPY has been able to reject its recent bearish bias, paving way for a new bullish signal. As long as price stays above the demand zone at 137.00, a bullish signal will make sense, and price could then even go up towards the supply zone at 138.00.

I’d like to conclude this forecast with the following quote:

USD/CAD Wave analysis and forecast for 10.07 – 18.07

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USD/CAD Wave analysis and forecast for 10.07 – 18.07: The pair is likely to grow. Estimated pivot point is at the level of 1.0616.

Our opinion: Buy the pair above the level of 1.0616 with the target of 1.09 – 1.10.

Alternative scenario: Breakout of the level of 1.0616 will enable the decline in the pair up to the level of 1.0550.

Analysis: Presumably, the formation of the downward correction in the fourth wave has completed. Locally, it is likely that the formation of the first in-lead wave has completed. If this assumption is correct, the pair will continue to rise not breaking down the critical level of 1.0616. Otherwise, the pair will continue to decline to the level of 1.0550 as the extension of wave с of 4.

USDCAD-d1

USDCAD-H4

USD/CAD Wave analysis and forecast for 04.07 – 11.07

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USD/CAD Wave analysis and forecast for 04.07 – 11.07: The correction is nearing completion. The pair is likely to grow.

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Estimated pivot point is at the level of 1.0680.

Our opinion: Buy the pair above the level of 1.0680 with the target of 1.09 – 1.10.

Alternative scenario: The pair will continue to decline to the levels of 1.06 – 1.0550.

Analysis: Presumably, the formation of the downward correction in the fourth wave is nearing completion. Locally, it is likely that the formation of the downward impetus in wave с of 4 is nearing completion. If this assumption is correct, the reversal will become possible and the pair may begin to rise in the fifth wave of the senior level. Breakout of the level of 1.0680 will be the confirmation of the reversal and the beginning of the rise in the pair. Buy positions can be placed above this level, with the stop-loss below the local lows at the moment of the breakout.

USDCAD-D1

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