Elliott Wave Analysis On AUDUSD And USDCAD 

usdcad-analysis

Gregor - Author BIO photo

 

Good morning traders!
Stocks and energy markets are down early this morning which puts some pressures on commodity currencies that are weakening at the moment against USD. It appears that AUD, NZD and CAD are in fifth wave now that may continue through the day.

ON Aussie price found sellers around 0.7570 where market turned down into wave 5 that can see more weakness to around 0.7480 through the next few sessions.

AUDUSD, 1H

audusd-analysis

Click to Enlarge

USDCAD can be in same situation; we see nice bounce from 1.3020-1.3060 support region where pair completed forth wave pullback that send price up into wave 5 to hit new highs already today.

USDCAD, 1H

usdcad-analysis

Click to Enlarge

Interested in our services ? We have a Special Offer : Get 1 Month Access For 1€!! Grab the opportunity now at www.ew-forecast.com You can even subscribe to our Twitter account -> @ewforecast

http://www.ew-forecast.com/service

By Gregor Horvat


Find more: Contributing Authors

Leave a Comment


Broker Cyprus TopFX