Elliott Wave Analysis: USDCAD and EURUSD 

intraday usdcad feb 19 2017

Gregor - Author BIO photoUSDCAD

When Oil is on the rise that’s when Canadian dollar my benefit, so it’s a  surprise to see a bearish count on USDCAD. What we see on hourly chart is a bearish impulse that suggest a resumption of a bearish trend firstly through 1.3000 psychological level and then below 1.2968.


intraday usdcad feb 19 2017


EURUSD turned down on Friday from around 1.0680, but it’s unclear if that was only a leg a of a three-wave correction. Normally I want to see something more complex and overlapping when looking for a corrective move, so I think there is still a chance for EURUSD to reach 1.0712 resistance and then turn down from there; ideally later this week.


intraday euruusd feb 19 2017



By Gregor Horvat


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